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Sales tax revenues are holding on par with 2009, with increases in a few key categories.
Real estate transfer tax revenues also bouncing back from 2009, but still well behind 2005-2007 peak years
By Summit Voice
SUMMIT COUNTY — Frisco’s April sales tax revenues held steady compared to 2009, and even bounced back a bit in some categories, according to the latest figures released by the town.
April tax revenues from restaurants, for example, climbed by 4.5 percent, from $56,000 in 2009 to $58,600 this year. For the year-to-date, restaurant sales are up about 4 percent, an encouraging sign that visitors are starting to open their wallets just a bit more.
April sales tax revenues from hotels and inns jumped 14.5 percent, from $19,600 in 2009 to $22,500 this year, but for the year-to-date, revenues in that category are still down about 9 percent from 2009. 2010 year-to-date revenues from grocery sales are also down by about 9 percent from last year.
In the general retail category, revenues were up by about 1 percent for April 2010 compared to last year, with the year-to-date total down just 1.88 percent from 2009.
Totaling all categories together, revenues for Frisco were up about 1 percent for the month of April compared to 2009, and down just .64 percent for the year-to-date.
Real estate transfer tax revenues are also showing signs of recovery in 2010, up 62 percent for the year compared to 2009. So far, every month in 2010 is ahead of last year, with May 2010 revenues from real estate transfer taxes nearly doubling from last year, from $17,272 to $33,215.
But those numbers are still far below the boom years, when the real estate transfer tax generated well above $100,00o for the town during May. IN May 2007, the peak year, the total was $192,445. In 2005, it was $144,000.
Filed under: business, real estate, Summit County Colorado Tagged: | Colorado resort business, Frisco, Frisco Colorado, Frisco sales tax revenues 2010, Summit County, Summit County Colorado, Summit County News
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This is wonderful news. Things are looking up, and we all need some good news once in awhile. In addition to this, if the state gets a handle on how to tax Internet sales back to each county, we will beef up our revenue. Local retail sales are suffering from Internet purchases. If someone figures out how to tax Internet sales that originate within our county, our tax base will skyrocket. I suppose that’s one for states to tackle.
[...] Frisco reports slight sales tax revenue gains for April [...]