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HomeMy WebLinkAbout160705 Revenue Highlights - 1 - TOWN OF VAIL REVENUE HIGHLIGHTS July 5, 2016 Sales Tax Upon receipt of all sales tax returns, May collections are estimated to be $641,122 up 9.7% from last year and up 1.3% compared to budget. Year to date collections of $13,388,031 are up 0.7% from prior year and down 1.3% from budget. Inflation as measured by the consumer price index was up 1.0% for May. The annual budget totals $25.6 million. Real Estate Transfer Tax (RETT) RETT collections through June 28 total $2,159,409 down 29.2% from this time last year. 2015 annual collections totaled $6,965,617, a record year since the peak in 2008. The annual 2016 RETT budget currently totals $6.5 million, a decrease of 6.7% from prior year collections. Construction Use Tax Use Tax collections through June 27 total $1,108,738, up 6.7% from this time last year. The annual budget totals $1,545,000. Summary Across all funds, year-to-date total revenue of $34.6 million is up 3.0% from the amended budget and down 0.2% from prior year.