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HomeMy WebLinkAbout160102 Revenue Highlights - 1 - TOWN OF VAIL UPDATED REVENUE HIGHLIGHTS January 2, 2016 Sales Tax Upon receipt of all sales tax returns, November collections are estimated to be $981,567 up 2.0% from last year and down 3.4% compared to budget. Year to date collections of $21,181,365 are up 5.6% from the prior year and up 2.3% from budget. Inflation as measured by the consumer price index was up 0.5% for November. The annual budget totals $24.5 million. Real Estate Transfer Tax (RETT) RETT collections through December 28 total $6,042,641 down 11.8% 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 December 23 total $2,223,051 down 1.4% compared to $2,254,400 from this time last year. The annual budget totals $1.8 million. Summary Across all funds, year-to-date total revenue of $62.8 million is up 4.7% from the amended budget and up 7.3% from prior year, mainly due to increases in sales tax and construction related fees.