HomeMy WebLinkAbout08. 170905 Revenue Updates - 1 -
TOWN OF VAIL
REVENUE UPDATE
September 5, 2017
Sales Tax
Upon receipt of all sales tax returns, July collections are estimated to be
$2,128,151 up 3.6% from last year and up 1.1% compared to budget. Year to
date collections of $16,597,713 are down 1.4% from prior year and up 1.1% from
budget. Inflation as measured by the consumer price index was up 1.7% for July.
Real Estate Transfer Tax (RETT)
RETT collections through Aug 29 total $4,394,263 up 43.8% from this time last
year. The annual 2017 RETT budget totals $5.85 million.
Construction Use Tax
Use Tax collections through August 29 total $1,128,212 down 20% compared to
collections of $1,413,580 from this time last year. The annual budget totals
$1,545,000.
Summary
Across all funds, year-to-date total revenue of $41.6 million is up 2.4% from the
amended budget and down 1.4% from prior year. Variances from prior year are
the result of decreases in sales tax and construction fees.