HomeMy WebLinkAbout03. 190305 Revenue Updates TOWN OF VAIL REVENUE UPDATE March 5, 2019 Sales Tax Upon receipt of all sales tax returns, January collections are estimated to be $3,823,190 up 6.3% from last year and down 0.9% compared to budget. Inflation as measured by the consumer price index was up 1.6% for January. The annual
budget totals $27.1 million. Real Estate Transfer Tax (RETT) RETT collections through February 25 total $724,373 up 40.7% from this time
last year. The annual 2019 RETT budget totals $6,300,000. Construction Use Tax Use Tax collections through February 25 total $117,827 compared to $155,970
from this time last year. The annual budget totals $2,220,000. Parking Revenue Season to date: Pass sales from November through February 26th total $1,615,962 up $429,597 or 36.2% from prior winter season. The majority of the increase in pass sales was largely due to purchases by local businesses and increased interest in value
passes. Daily sales from the parking structures from November through February 24th total approximately $3,169,776, up $795,666, or 33.5% from the prior winter season as a result of the heavy snow fall compared to a lack luster season in the
prior year. Compared to the same time period in 2017, daily sales are up $466,409 or 17.3%.
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