HomeMy WebLinkAbout05. 180703 Revenue Updates - 1 -
TOWN OF VAIL
REVENUE UPDATE
July 3, 2018
Sales Tax
Upon receipt of all sales tax returns, May collections are estimated to be
$752,693 up 14.1% from last year and up 14.7% compared to budget. Year to
date collections of $13,470,118 are up 2.8% from prior year and up 0.4% from
budget. Inflation as measured by the consumer price index was up 2.8% for May.
The annual budget totals $26.0 million.
Real Estate Transfer Tax (RETT)
RETT collections through June 27 total $3,606,168 up 13.2% from this time last
year. Sales from the Lion have boosted RETT revenue so far this year. Without
those sales, RETT is flat with 2017 and is pacing with budget. The annual 2018
RETT budget totals $6.1 million.
Construction Use Tax
Use Tax collections through June 27 total $1,098,362 compared to $879,764
from this time last year. The annual budget totals $1,975,900.
Summary
Across all funds, year-to-date total revenue of $36.9 million is up 6.2 % from
amended budget and up 3.2% from prior year.