HomeMy WebLinkAbout170103 Revenue Updates TOWN OF VAIL
REVENUE UPDATE
January 3, 2017
Sales Tax
Upon receipt of all sales tax returns, November collections are estimated to be
$941,527 down 5.6% from last year and down 10% compared to budget. Year to
date collections of $21,817,589 are up 2.6% from prior year and up 1.1% from
budget. Inflation as measured by the consumer price index was up 1.7% for
November. The annual budget totals $25.6 million.
Real Estate Transfer Tax (RETT)
RETT collections through December 28 total $6,722,918 down 3.6% from 2015
and up 3.4% from budget. 2015 annual collections totaled $6,965,617, a record
year since the peak in 2008. The annual 2016 RETT budget totals $6.5 million, a
decrease of 6.7% from prior year collections.
Construction Use Tax
Use Tax collections through December 28 total $1,790,981 down 19.7% from
2015. The annual budget totals $1,545,000.
Summary
Across all funds, year-to-date total revenue of $55.9 million is up 3.0% from the
amended budget and down 2.9% from prior year. While sales tax collections for
2016 are up 2.6% YTD from prior year, overall 2016 revenue appears down from
2015 due to the $1.9M in housing fee-in-lieu (majority of which was received from
Vail Valley Medical Center) in 2015.
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