HomeMy WebLinkAbout161101 Revenue Update - 1 -
TOWN OF VAIL
REVENUE UPDATE
November 1, 2016
Sales Tax
Upon receipt of all sales tax returns, September collections are estimated to be
$1,343,232 up 8.3% from last year and up 13.4% compared to budget. Year to
date c ollections of $19,997,155 are up 3.0% from prior year and up 1.5% from
budget. Inflation as measured by the consumer price index was up 1.5% for
August. The annual budget totals $25.6 million.
Real Estate Transfer Tax (RETT)
RETT collections through October 25 total $4,326,216 down 18.6% 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 September 26 total $1,648,737 down 24.3% from
this time last year. The annual budget totals $1,545,000.
Summary
Across all funds, year-to-date total revenue of $49.2 million is up 1.4% from the
amended budget and down 2.4% from prior year. W hile parking revenue for 2016
is up 12.3% YTD from prior year, overall 2016 revenue appears down from 2015
due to the $1.9M is housing fee-in-lieu (majority of which was received from Vail
Valley Medical Center) in 2015.