HomeMy WebLinkAbout06. 170606 Revenue Updates - 1 -
TOWN OF VAIL
REVENUE UPDATE
June 6, 2017
Sales Tax
Upon receipt of all sales tax returns, April collections are estimated to be
$1,311,917 up 20.4% from last year and up 21.1% compared to budget. Year to
date collections of $12,269,351 are down 4.2% from prior year and down 4.6%
from budget. Inflation as measured by the consumer price index was up 2.2% for
April. The annual budget totals $26.1 million.
To eliminate the variances due to the impact of how the Easter holiday fell, staff
has combined March and April results. March and April combined collections are
estimated to be $4,923,509 down 7.4% from last year and down 7.3% compared
to budget.
Real Estate Transfer Tax (RETT)
RETT collections through May 31 total $2,706,719 up 45.4% from this time last
year. The annual 2017 RETT budget totals $5.85 million.
Construction Use Tax
Use Tax collections through May 31 total $629,925 down 40% compared to
collections of $1,044,709 from this time last year. The annual budget totals
$1,545,000.
Summary
Across all funds, year-to-date total revenue of $29.8 million is down 1.9% from
the amended budget and down 6% from prior year. These variances are the
result of decreases in sales tax and construction use tax.