HomeMy WebLinkAbout140701 Revenue HIghlights - 1 -
TOWN OF VAIL
REVENUE HIGHLIGHTS
July 1, 2014
Sales Tax
Upon receipt of all sales tax returns, May collections are estimated to be
$597,904 up 6.1% from last year and up 0.9% compared to budget. Year to
date collections of $12,586,067 are up 7.6% from the prior year and up 5.4%
from budget. Inflation as measured by the consumer price index was up 2.1% for
May. The annual budget totals $22.0 million.
Real Estate Transfer Tax (RETT)
RETT collections through June 24 total $3,166,402 up 42.0% from this time last
year. The significant increase is mainly due to the purchase of residential
properties. So far this year there have been 5 properties sold for over $10
million, 11 properties sold between $5 and $10 million and 18 properties sold
between $2.5 and $5 million. These properties account for $1.9 million, or 59%
of the total collections year to date.
The annual RETT budget currently totals $3.9 million.
Construction Use Tax
Use Tax collections total $701,402 year-to-date compared to an annual budget of
$1.0 million. Construction Use Tax is up 22.0% from collections this time last
year.