HomeMy WebLinkAbout09. 180501 Revenue Updates TOWN OF VAIL
REVENUE UPDATE
May 1, 2018
Sales Tax
Upon receipt of all sales tax returns, March collections are estimated to be
$4,072,634 up 11.8% from last year and up 0.4% compared to budget. Year to
date collections of $11,462,845 are up 3.42% from prior year and down 0.2%
from budget. Inflation as measured by the consumer price index was up 2.4% for
March. The annual budget totals $26.0 million.
Part of the large variance to prior year collections is due to the Easter holiday
falling in March for 2018 (Easter was in April for 2017). Once April tax collections
are remitted, staff will combine the monthly data for March and April to compare
to the prior March/April in order to eliminate the variances caused by the holiday.
Real Estate Transfer Tax (RETT)
RETT collections through April 25 total $1,888,514 up 25.1% from this time last
year. The annual 2018 RETT budget totals $6.1 million.
Construction Use Tax
Use Tax collections through April 25 total $660,975 compared to $278,509 from
this time last year. The annual budget totals $1,975,900.
Parking Revenue
Season to date:
Pass sales from November through April total $1,241,595 up 22.2% from prior
winter season. The significant increase in pass sales was largely due to the
purchase of blue passes by Vail Health due to loss of parking during
construction.
Daily sales from the parking structures from November through April total
approximately $3,685,336, down 6.7% from the prior winter season.
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