HomeMy WebLinkAbout05. 180807 Revenue Updates - 1 -
TOWN OF VAIL
REVENUE UPDATE
August 7, 2018
Sales Tax
Upon receipt of all sales tax returns, June collections are estimated to be
$1,648,438 up 18.6% from last year and up 13.0% compared to budget. Year to
date collections of $15,244,758 are up 5.2% from prior year and up 2.5% from
budget. Inflation as measured by the consumer price index was up 2.9% for
June. The annual budget totals $26.0 million.
Real Estate Transfer Tax (RETT)
RETT collections through July 31 total $4,352,746 up 22.9% from this time last
year. Sales from the Lion have boosted RETT revenue so far this year. Without
those sales, RETT is up 9% from prior year. The annual 2018 RETT budget
totals $6.1 million.
Construction Use Tax
Use Tax collections through July 31 total $1,196,957 compared to $1,010,638
from this time last year. The annual budget totals $1,975,900.
Summary
Across all funds, year-to-date total revenue of $41.0 million is up 7.0% from
amended budget and up 6.0% from prior year.