HomeMy WebLinkAbout03. 190402 Revenue Updates1
TOWN OF VAIL REVENUE UPDATE April 2, 2019 Sales Tax Upon receipt of all sales tax returns, February collections are estimated to be $3,899,820 up 2.1% from last year and up 0.7% compared to budget. Inflation as measured by the consumer price index was up 1.5% for February. The annual
budget totals $27.1 million. Real Estate Transfer Tax (RETT) RETT collections through March 26 total $1,398,097 up 8.0% from this time last
year. The annual 2019 RETT budget totals $6,300,000. Construction Use Tax Use Tax collections through March 26 total $193,759 compared to $229,359 from
this time last year. The annual budget totals $2,220,000. Parking Revenue Season to date: Pass sales from November through March 26th total $1,615,962 up $429,685 or 34.9% 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 March 24th total approximately $3,427,001, up $663,131, or 19.4% from the prior winter season as a result of the heavy snow fall compared to a lack luster season in the prior
year.