HomeMy WebLinkAbout07. 170103 Revenue Updates TOWN OF VAIL REVENUE UPDATE January 3, 2017 Sales Tax Upon receipt of all sales tax returns, November collections are estimated to be $941,527 down 5.6% from last year and down 10% compared to budget. Year to date collections of $21,817,589 are up 2.6% from prior year and up 1.1% from budget. Inflation as measured by the consumer price index was up 1.7% for
November. The annual budget totals $25.6 million. Real Estate Transfer Tax (RETT) RETT collections through December 28 total $6,722,918 down 3.6% from 2015
and up 3.4% from budget. 2015 annual collections totaled $6,965,617, a record year since the peak in 2008. The annual 2016 RETT budget totals $6.5 million, a decrease of 6.7% from prior year collections. Construction Use Tax Use Tax collections through December 28 total $1,790,981 down 19.7% from 2015. The annual budget totals $1,545,000. Summary Across all funds, year-to-date total revenue of $55.9 million is up 3.0% from the amended budget and down 2.9% from prior year. While sales tax collections for 2016 are up 2.6% YTD from prior year, overall 2016 revenue appears down from 2015 due to the $1.9M in housing fee-in-lieu (majority of which was received from
Vail Valley Medical Center) in 2015.
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