Glenwood sales tax revenues down 20 percent in March |

Glenwood sales tax revenues down 20 percent in March

John Gardner
Glenwood Springs correspondent
Aspen, CO Colorado

GLENWOOD SPRINGS ” Pete Crow is thankful his Glenwood Springs business has a loyal local customer base.

“We are here for the tourists as well,” Crow said. “But the locals are our main business.”

Crow is the owner of Downtown Drug on Grand Avenue. The pharmacy operation is one reason his business has not seen a huge slowdown during the tough economic times, at least from the local customers.

But, judging from the city’s sales tax revenues for the first quarter of 2009, it was a slow start for most Glenwood Springs businesses.

March saw the biggest decline in sale tax revenues yet. According to a report from Glenwood Springs Finance Director Mike Harman, the city’s sales tax revenue dropped 20 percent in March compared to the same month a year ago.

The month brought in $1,092,169, compared to $1,357,947 in March 2008. January and February had decreases of 11 and 17 percent, respectively.

While the first two months of the year saw smaller declines, they also typically generate less revenue than March.

Glenwood took in $16,359,601 in sales tax revenues for all of 2008. In the first quarter of 2008, the city received $3,660,550, while the first quarter of 2009 has produced $3,074,164 ” a difference of $586,386 and a 16 percent decline.