Snowmass makes gains in sales-tax collections, RETT production drops | AspenTimes.com
YOUR AD HERE »

Snowmass makes gains in sales-tax collections, RETT production drops

Staff report

The town of Snowmass Village’s collection of $10.2 million in sales-tax receipts through November 2022 topped the dollar amount for all of 2021, according to the latest financial figures available. 

The town drew $2.9 million in sales taxes dedicated to its general fund and $7.3 million for its marketing fund through 11 months of 2022. Year-end totals for 2022 have yet to be released; the 12 months of 2021 produced $8.8 million in sales-tax revenue for the town, with $2.5 million going to its general fund and $6.3 million to marketing.

Snowmass Village has a 3.5% sales-tax rate. The town’s marketing fund receives 2.5% and 1% supports the general fund.  



In November, Village voters approved a measure to repurpose some of the town’s separate marketing and lodge taxes. The Town Council has discretion on how to divert those funds. 

Village retailer sectors produced the following amounts in sales tax receipts from January through November 2022:




  • Lodging, $1.09 million, up 51.3%
  • Restaurants, $450,361, up 51.9%
  • Sports equipment/clothing, $233,061, up 39.3%
  • Food/drug/liquor stores, $204,832, up 8.8%
  • General retail, $215,405, up 23.7%
  • Construction, $146,035, up 62.4%
  • E-commerce, $186,880, up 12.5%
  • Special events, $9,232, up 41.1%
  • Miscellaneous, $87,413, up 89.84%
  • Utilities/telecommunications, $192,802, up 20%

The lodging tax made $2.6 million for the town from January through November last year, outperforming 2021’s 12-month totals by 56.7%

The Village’s real-estate transfer tax told a different story 11 months into 2022, which generated $4.82 million in collections. The town is trekking 36% behind the $8.3 million it collected in 2021, according to Village financial records.

News


See more