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HomeMy WebLinkAbout05. October Revenue Updates - 1 - TOWN OF VAIL REVENUE UPDATE October 3, 2017 Sales Tax Upon receipt of all sales tax returns, August collections are estimated to be $2,783,474 down 3.6% from last year and down 5.9% compared to budget. Year to date collections of $18,395,336 are down 1.5% from prior year and down 0.4% from budget. Inflation as measured by the consumer price index was up 1.9% for August. Real Estate Transfer Tax (RETT) RETT collections through September 26 total $4,751,048 up 22.2% from this time last year. The annual 2017 RETT budget totals $5.85 million. Construction Use Tax Use Tax collections through September 26 total $1,220,047 down 21.1% compared to collections of $1,546,430 from this time last year. The annual budget totals $1,545,000. Summary Across all funds, year-to-date total revenue of $45.4 million is up 2.3% from the amended budget and down 1.5% from prior year. Variances from prior year are the result of decreases in sales tax and construction fees.