HomeMy WebLinkAbout03. 2020_Nov_VBRTOWN Of
0) VAIL
75 South Frontage Road West
Vail, Colorado 81657
vailgov.com
Vail Business Review
November 2020
February 2, 2021
Finance Department
970.479.2100
970.479.2248 fax
The Vail Business Review breaks down the four percent sales tax collected for the
month of November 2020.
Overall, November sales tax increased 10.0% with retail increasing 16.7%, lodging
increased 23.0%, food and beverage decreased (13.2)%, and utilities/other increased
by 0.1 %. Excluding the out of town category; sales tax for the month of decreased
(3.8)%.
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
TOWN OF VA
2020
2019
2018
2017
2016
Town of Vail Business Review
November 2020 Sales Tax
November Tax Collections by Year
$0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000
• This report represents collections of Town of Vail 4% sales tax, as opposed to actual gross sales
• Overall, November 2020 sales tax collections were up 10.0% from prior year.
• The sales tax budget for 2020 totals $22.5M, compared to $29.3M actual collections in 2019.
Sales Tax Collections by Business Type
November 2020 November 2019
$800,000
$800,000
Retail
$700,000
$663,342
$700,000
Retail
$600,000
$600,000
$573,965
$500,000
$500,000
$400,000
Lodging
4i345,1L1
$400,000
Lodging Food &
$300,000
Food &
Beovra3L
$300,000
Beverage
$280,660 62f 763
$225,423
Utilities &
Other
Utilities &
Other
$200,000
It
$146, 232
$200,000
$146,062
$100,000
0
16.7% 23.0%
1
(13.2)0
%
0
� o
$100,000
on
�
$0
$0
• November retail sales increased 16.7%,
lodging
increased 23.0%, food and beverage decreased
(13.2)% and utilities and other
increased 0.1%.
s
Town of Vail Business Review
TOWN OF VAIL November 2020 Sales Tax
Sales Tax by Location
November 2020 November 2019
Other
Areas
18%
Vail Village
32%
Lionshead
12%
Out of
Town
38%
Other
Areas
17%
Vail Village
39%
Lionshead
15%
Out of
Town
29%
• Vail Village sales tax decreased (9.2)%, Lionshead decreased (9.8)%, Other Areas increased
13.6%, and Out of Town increased 43.9%. Excluding Out of Town collections, all areas were down
(3.8)%.
• Effective October 1 st, 2020, the town of Vail enacted new regulations which shifted collections of
some sales tax from local vendors to their marketplace facilitators who file under the out-of-town
category.
Geographic Area Trends by Year
November Sales Tax
$600,000
$500,000
$492,850
$495,877
$400,000
$447,893
$438,675
$364,911
$339,645
$300,000
$225,786
$243,815
$236,012
$216,799
$200,000
$171,010
$165,120
$200,468
$182,88U
$100,000
$150,542
$155,183
$0
2016 2017 2018 2019
Other Areas Lionshead Out of Town Vail Village
• This chart shows November sales tax collections, by geographic area over time.
$525, 041
$450,035
$246, 372
$164,877
2020
9
Town of Vail Business Review
0�
TOWN OF VA I L November 2020 Sales Tax
Retail Business Sales Tax Detail - November 2020 Sales Tax
Sporting Goods
$112,870
Retail Other
Retail Home $289,272
Occupation
$144
Grocery
$114,335
Gallery
$6, 892
ifts
,365
ewelry
14,286
$38,354
Accommodation Services Sales Tax by Year
November Sales Tax
$142,986 2020 2019 2018
Short -Term Rentals $77,054
$82, 052
$202,141
Hotels/Lodges $203,606
$213, 788
$0 $50,000 $100,000 $150,000 $200,000 $250,000
• Overall, November accommodations services were up 23.0%, short-term rentals were up 85.6% and
hotels and lodges were down (0.7)%.
• The Town of Vail adopted marketplace facilitator tax rules on October 1 st, 2020. This change in
remittance requirements is anticipated to have a positive impact on short-term rental sales tax
collections going forward.
10
Town of Vail Business Review
November 2020 Sales Tax
TOWN OF VAIL' November 2020 November 2019 November % Change
Collections Collections
Cascade Village / East Vail / Sandstone / West Vail
Retail
148,364.28
115,486.28
28.47%
Lodging
58,671.52
69,565.04
-15.66%
F & B
34,494.04
26,638.54
29.49%
Other
4,842.03
5,108.82
-5.22%
Total
246,371.87
216,798.68
13.64%
Lionshead
Retail
62,182.94
54,215.38
14.70%
Lodging
64, 583.68
83,428.28
-22.59%
F & B
38,108.87
44,272.86
-13.92%
Other
1.40
963.32
-99.85%
Total
164,876.89
182,879.84
-9.84%
Out of Town
Retail
267,744.34
229,970.26
16.43%
Lodging
120,215.55
1,498.66
7921.52%
F & B
41.81
125.87
-66.78%
Other
137,039.01
133,316.58
2.79%
Total
525,040.71
364,911.38
43.88%
Vail Village
Retail
191,249.98
174,292.75
9.73%
Lodging
101,656.19
126,167.89
-19.43%
F & B
152,778.77
188,742.93
-19.05%
Other
4,349.71
6,673.73
-34.82%
Total
450,034.64
495,877.30
-9.24%
Total - All Areas
Retail
669,541.53
573,964.66
16.65%
Lodging
345,126.94
280,659.87
22.97%
F & B
225,423.49
259,780.20
-13.23%
Other
146,232.15
146,062.46
0.12%
Total
1,386,324.11
1,260,467.19
9.98%
Retail Summary
Retail Apparel
90,024.07
74,615.88
20.65%
Retail Food
114,335.12
89,211.60
28.16%
Retail Gallery
6,891.96
2,817.32
144.63%
Retail Gift
3,365.21
2,921.09
15.20%
Retail Home Occupation
143.81
100.74
42.75%
Retail Jewelry
14,286.15
9,238.47
54.64%
Retail Liquor
38,353.63
30,864.00
24.27%
Retail Other
289,271.99
245,316.43
17.92%
Retail Sport
112,869.59
118,879.13
-5.06%
Total
669,541.53
573,964.66
16.65%
is