HomeMy WebLinkAbout02. 2020_Oct_VBRVail Business Review
October 2020
January 5, 2021
The Vail Business Review breaks down the four percent sales tax collected for the
month of October 2020.
Overall, October sales tax increased 8.9% with retail increasing 1.2%, lodging increased
29.2%, food and beverage increased 14.2%, and utilities/other decreased by (7.8)%.
Excluding the out of town category; sales tax for the month of increased 12.5%.
Town of Vail sales tax forms, the Vail Business Review and sales tax worksheets are
available on the internet at www.vailgov.com/finance.
Please remember when reading the Vail Business Review that it is produced from sales
tax collections, as opposed to actual gross sales.
If you have any questions or comments, please feel free to call me at (970) 479-2125 or
Carlie Smith at (970) 479-2119.
Sincerely,
Alex Jakubiec
Town of Vail
Revenue Manager
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October 2020
Sales Tax Collections by Business Type
Town of Vail Business Review
October Tax Collections by Year
October 2020 Sales Tax
October 2019
Retail
$554,571
Lodging
$311,242
Food &
Beverage
$296,440
Utilities &
Other
$111,482
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
1.2%
14.2%
(7.8)%
Retail
$547,952
Lodging
$240,953
Food &
Beverage
$259,576
Utilities &
Other
$120,863
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$1,273,735
$1,169,345
$1,110,970
$942,395
$912,307
$0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000
2020
2019
2018
2017
2016
29.2%
• This report represents collections of Town of Vail 4% sales tax, as opposed to actual gross sales
• This report does not include an estimate of quarterly sales taxes, due on January 20th, 2021.
• Overall, October 2020 sales tax collections were up 8.9% from prior year.
• The sales tax budget for 2020 totals $16.8M, compared to $29.3M actual collections in 2019.
• October retail sales increased 1.2%, lodging increased 29.2%, food and beverage increased 14.2%
and utilities and other decreased (7.8)%.
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Geographic Area Trends by Year
October Sales Tax
Sales Tax by Location
Town of Vail Business Review
October 2020 Sales Tax
October 2019 October 2020
Other
Areas
17%
Lionshead
10%
Out of
Town
32%
Vail Village
42%
Other
Areas
20%
Lionshead
13%
Out of
Town
34%
Vail Village
33%
• Vail Village sales tax increased 36.7%, Lionshead decreased (14.6)%, Other Areas decreased
(10.6)%, and Out of Town increased 2.0%. Excluding Out of Town collections, all areas were up
12.5%.
$158,643 $175,010
$233,264 $239,531 $214,166
$151,030
$126,265 $129,073 $143,234
$122,280
$223,071 $225,754
$319,265
$397,465 $405,418
$379,563
$415,366 $429,368
$389,114
$531,871
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
2016 2017 2018 2019 2020
Other Areas Lionshead Out of Town Vail Village
• This chart shows October sales tax collections, by geographic area over time.
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October Sales Tax
Accommodation Services Sales Tax by Year
Retail Business Sales Tax Detail - October 2020 Sales Tax
Town of Vail Business Review
October 2020 Sales Tax
Apparel
$100,653
Grocery
$113,762
Gallery
$8,466
Gifts
$4,645Jewelry
$19,470
Retail Liquor
$39,279
Retail Other
$204,168
Sporting Goods
$64,086
Retail Home
Occupation
$42...
• Overall, October accommodationsservices were up %, short-term rentals were up % and hotels
and lodges were XS%.
• The Town of Vail adopted marketplace facilitator tax rules on October 1st, 2020. This change in
remittance requirements is anticipated to have a positive impact on short-term rental sales tax collections
going forward.
$170,850
$72,645
$169,513
$67,768
$188,929
$101,291
$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000
Hotels/Lodges
Short-Term Rentals 2020 2019 2018
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Retail 135,344.80 111,724.63 21.14%
Lodging 31,624.93 61,563.58 -48.63%
F & B 41,620.95 58,754.90 -29.16%
Other 5,575.07 7,488.19 -25.55%
Total 214,165.75 239,531.30 -10.59%
Retail 33,007.32 28,792.41 14.64%
Lodging 53,153.82 77,295.70 -31.23%
F & B 36,117.16 36,799.87 -1.86%
Other 1.38 346.51 -99.60%
Total 122,279.68 143,234.49 -14.63%
Retail 184,983.13 283,077.11 -34.65%
Lodging 115,640.08 2,559.39 4418.26%
F & B 1,447.45 182.11 694.81%
Other 103,347.25 111,646.59 -7.43%
Total 405,417.91 397,465.21 2.00%
Retail 201,235.96 124,357.99 61.82%
Lodging 110,823.06 99,534.40 11.34%
F & B 217,254.00 163,839.50 32.60%
Other 2,558.21 1,381.76 85.14%
Total 531,871.23 389,113.65 36.69%
Retail 554,571.21 547,952.13 1.21%
Lodging 311,241.89 240,953.08 29.17%
F & B 296,439.56 259,576.38 14.20%
Other 111,481.91 120,863.06 -7.76%
Total 1,273,734.57 1,169,344.65 8.93%
Retail Apparel 100,652.60 65,611.39 53.41%
Retail Food 113,761.94 89,793.59 26.69%
Retail Gallery 8,466.29 1,595.61 430.60%
Retail Gift 4,645.03 2,693.93 72.43%
Retail Home Occupation 42.40 100.74 -57.91%
Retail Jewelry 19,470.10 10,511.30 85.23%
Retail Liquor 39,279.01 25,049.30 56.81%
Retail Other 204,168.32 305,854.06 -33.25%
Retail Sport 64,085.52 46,742.21 37.10%
Total 554,571.21 547,952.13 1.21%
Total - All Areas
Lionshead
Out of Town
Vail Village
Retail Summary
Cascade Village / East Vail / Sandstone / West Vail
Town of Vail Business Review
October 2020 Sales Tax
October 2020
Collections
October 2019
Collections October % Change
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