Snowmass sales tax falls 17 percent in January
Aspen, CO Colorado
SNOWMASS VILLAGE ” Sales tax revenue was down 17 percent ” about $47,000 ” in Snowmass Village during the month of January compared to January 2008, according to data from the town.
The 17 percent drop in January follows the 10 percent drop the town saw in December 2008.
But it is better than October 2008 ” when sales tax returns dropped by 25 percent ” and November 2008, which saw a 22 percent decline.
In January, the biggest percentage drop was in the very small miscellaneous category, where sales tax revenue fell 62 percent, from $1,281 to $486. In the restaurant category, tax revenue fell 24 percent. Sports equipment and clothing fell 21 percent; food, drug and liquor sales fell 18 percent; utilities fell 17 percent; lodging was down 15 percent, and general retail fell 14 percent.
Snowmass has already adopted a conservative budget to help it weather declines in sales tax revenues. In January, Snowmass adopted a budget contingency plan based on a 20 percent decline.
The January financial data comes on the heels of a March 11 CBS news segment about how both government and business in Snowmass Village are “beating the recession” by managing to not lay off too many workers or stop too many construction projects during the economic downturn.
The segment noted that developer Related WestPac has continued work on two hotels through the winter and plans to begin construction on an arrival center this summer. It also featured Town Manager Russ Forrest saying that both the town and Aspen Skiing Co. have maintained the same level of full-time workers this winter despite the recession.
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