HomeMy WebLinkAbout05. 170711 Revenue Updates - 1 -
TOWN OF VAIL
REVENUE UPDATE
July 11, 2017
Sales Tax
Upon receipt of all sales tax returns, May collections are estimated to be
$598,155 down 8.6% from last year and down 10.9% compared to budget. Year
to date collections of $12,938,305 are down 3.8% from prior year and down 0.2%
from budget. Inflation as measured by the consumer price index was up 1.9% for
May. The annual sales tax budget has been amended to $25.5 million, updated
to reflect the current shortfall.
Real Estate Transfer Tax (RETT)
RETT collections through June 30 total $3,186,630 up 47.4% from this time last
year. The annual 2017 RETT budget totals $5.85 million.
Construction Use Tax
Use Tax collections through June 30 total $970,736 down 22% compared to
collections of $1,125,174 from this time last year. The annual budget totals
$1,545,000.
Summary
Across all funds, year-to-date total revenue of $30.2 million is down 0.7% from
the amended budget and down 1.4% from prior year. These variances are the
result of decreases in sales tax and construction fees.