Sales down for second straight month
December 26, 2013
Sales tax revenue collected by the town of Snowmass Village was down 15.5 percent in October from the same month last year, according to a report from the town Finance Department.
October was the second consecutive month that revenue dropped. Sales had increased every month in 2013 before September.
Collections from the town's 1 percent sales tax totaled $24,946.98. Over the past few years, revenue in October has been in the $21,000 to $30,000 range. Many Snowmass Village hotels and restaurants begin offseason closures during the month.
The Finance Department's report divides businesses into industry categories. It does not report on individual businesses.
Industry categories that saw increases were lodging, 12 percent, and utilities, 3.7 percent. Categories with decreases were restaurants, 46.5 percent; sports equipment and clothing, 23.9 percent; food, drug and liquor stores, 6.8 percent; general retail, 37.7 percent; and miscellaneous, 47.2 percent.
The real estate transfer tax fund saw a big jump thanks in large part to the $44 million sale of a Wildcat Ranch property in September. The transfer tax on the sale was collected by Snowmass Village in October. Revenue from the tax increased by 776.9 percent.
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Sales tax collections for the year to date are up 11.8 percent from 2012.
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