Basalt sales tax revenues up 6.5% through November, surging toward record | AspenTimes.com

Basalt sales tax revenues up 6.5% through November, surging toward record

Staff report

Basalt aims to close out the fiscal year with a surge in sales tax revenue.

The report for December isn't available yet, but tax collections were up 6.57 percent in November. (That reflects actual sales in October and sales taxes paid in November.)

For the year-to-date through November, sales tax revenue was up nearly $281,000 or 6.27 percent from the same point in 2016, according to a report by the town finance department.

This year has been strong for just about every major sector of the town's economy, the report shows. Retail food sales — fueled by City Market and Whole Foods — are up 1.61 percent for the year. That generated $2.03 million in sales tax revenue for the town.

The next biggest sector of Basalt's economy is general retail, which was up 22.1 percent for the year through November. Sporting goods retail, which is a separate category, was flat with just 0.44 percent growth.

General retail stores generated $883,853 in sales tax revenue through November while sporting good retail added $219,872 in collections.

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Restaurants with bars showed a gain in sales of 21.48 percent through November. Two restaurants, Capitol Creek Brewery and Mezzaluna, opened in Willits Town Center this year to add to the strength of the category. The restaurant category as a whole generated $452,965 in sales tax revenue through November.

Restaurants without bars faced a tougher time. Sales were down 10.42 percent for the year through November. They generated $111,679 in tax revenue for the town.

Other categories of note and their performance through November were:

Automotive-oriented businesses, down 2.4 percent, generating $155,584 in sales tax revenue.

Lodging up 2.59 percent, generating $166,703 in sales tax revenue.

Retail liquor sales down 0.91 percent, generating revenue of $228,362.

Building material suppliers up 4.77 percent, generating $260,128.

AT A GLANCE

Basalt sales tax revenues were up 6.57% in November.

For the year-to-date through November, sales tax revenues were up 6.27%.

Total sales tax collections through November were $4,762,663.

Grocery stores and other retail food sales accounted for $2,037,539 in sales taxes.