Monday Business Briefs: Aspen retail up, real estate down this year
Aspen retail up 5 percent for first half of 2018
The first half of 2018 for Aspen retailers showed their revenue was up 5 percent compared with the same period in 2017, thanks to $374.4 million in sales.
The city released its monthly sales tax report for June last week. The report came out later than usual because of issues with a city server.
With $65.2 million in sales, June also was 5 percent better than June 2017, according to the report.
Retail industry figures for June, which the city said represents nearly 8 percent of total sales for the year, were as follows:
• Accommodations — $18.6 million, up 7 percent over June 2017
• Restaurants/bars — $11.3 million, up 4 percent
• Sports equipment/clothing — $2.5 million, up 7 percent
• Clothing — $5.2 million, up 14 percent
• Food/drug — $4.7 million, up 5 percent
• Liquor — $977,856, up 9 percent
• Miscellaneous — $7.3 million, up 24 percent
• Construction — $6.5 million, down 19 percent
• Luxury goods — $2.5 million, up 4 percent
• Utilities — $2.8 million, down 4 percent
• Automobile — $2 million, up 23 percent
• Marijuana — $839,076, down 2 percent
Property transfer taxes on decline
The city also reported that its July collections of real estate transfer taxes were down 48 percent for the affordable-housing portion of the fund and down 47 percent for the Wheeler Opera House coffer.
The housing portion drew $836,458 in July; the Wheeler segment brought in $432,004.
For the first seven months of the year, the housing fund made $4.9 million and the Wheeler portion brought in $2.5 million, which is about 11 percent below January through July of 2017, according to the report.
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The city of Aspen’s office building is exempt from paying encroachment fees, yet private developers have to now pay $9 a square foot, per month, starting in 2020.