HomeMy WebLinkAbout150901 Revenue Highlights - 1 -
TOWN OF VAIL
REVENUE HIGHLIGHTS
September 1, 2015
Sales Tax
Upon receipt of all sales tax returns, July collections are estimated to be
$1,927,849 up 5.4% from last year and up 2.6% compared to budget. Year to
date collections of $16,461,034 are up 5.4% from the prior year and up 2.4%
from budget. Inflation as measured by the consumer price index was up 0.2% for
July. The annual budget totals $24.5 million.
Real Estate Transfer Tax (RETT)
RETT collections through August 26 total $3,927,284 up 1% from this time last
year. 2014 annual collections totaled $6,849,449, a record year since the peak
in 2008. The 2015 amended budget of $6,190,000 is a 9.6% reduction from prior
year actuals.
Construction Use Tax
Use Tax collections through August 26 total $1,691,999 up 31% compared to
$1,290,567 from this time last year. The annual budget totals $1.8 million.
Summary
Across all funds, year-to-date total revenue of $43.4 million is up 13.5% from the
amended budget and up 7.8% from prior year, mainly due to increases in sales
tax and construction related fees. Total year-to-date revenue is 69% of annual
budgeted revenues of $62.8 million.