Site search
sponsored by
Home
News
BRECKENRIDGE - A proposal to up the town's business and occupational licensing tax (BOLT) appears to have widespread support from the business community, including the Breckenridge Resort Chamber, the restaurant association and the ski area.
Should voters approve referred Measure 2A, the town would more than double the revenues it collects from short-term lodging facilities, restaurants, retailers and professional services like Realtors and attorneys, from about $500,000 to $1.075 million annually, with regular future increased tied to jumps in the consumer price index.
The current BOLT has been in place for about 20 years and hasn't been changed in 16 years, said town manager Tim Gagen. Colorado's taxpayer bill of rights (TABOR) requires voter approval.
The bulk of the tax currently comes from thousand of short-term rental units in town. Under the current BOLT structure, lodging businesses pay a per-bedroom rate. A one-bedroom unit, for example, pays $100. Under the proposed 50 percent increase, that fee would go up to $150 for a one-bedroom rental. The new fee structure would also up the rates for larger rental properties by dropping the four-bedroom cap.
Another significant change is the addition of a ski area category that would cover Breckenridge Ski Resort's rental properties. Gagen said resort executives have expressed support for the measure.
The new lodging fees paid by the resort would amount to about $100,000 annually. Its other business (restaurants, ski shops) would pay about $50,000. Currently, the resort voluntarily contributes about $150,000 directly to the Breckenridge Resort Chamber. The proposed BOLT changes would basically replace the voluntary contribution.
The ballot measure would also change the per-employee fee for restaurants to an amount based on maximum occupancy. The fee for retail operations would continue to be based on the number of employees.
Other changes would affect professional offices, as well as businesses and providers of professional services who are not based in town but do business there, as well as licensed, in-home businesses.
Although it's not included in the ballot language, the changes would also affect BRC membership. Under the proposal, every BOLT-holder is invited to become BRC members free-of-charge.
The BOLT revenues have covered about half of the town's marketing budget in recent years. Gagen said the fee structure just hasn't kept pace with inflation.
Bob Berwyn can be reached at (970) 331-5996, or at bberwyn@summitdaily.com.
Should voters approve referred Measure 2A, the town would more than double the revenues it collects from short-term lodging facilities, restaurants, retailers and professional services like Realtors and attorneys, from about $500,000 to $1.075 million annually, with regular future increased tied to jumps in the consumer price index.
The current BOLT has been in place for about 20 years and hasn't been changed in 16 years, said town manager Tim Gagen. Colorado's taxpayer bill of rights (TABOR) requires voter approval.
The bulk of the tax currently comes from thousand of short-term rental units in town. Under the current BOLT structure, lodging businesses pay a per-bedroom rate. A one-bedroom unit, for example, pays $100. Under the proposed 50 percent increase, that fee would go up to $150 for a one-bedroom rental. The new fee structure would also up the rates for larger rental properties by dropping the four-bedroom cap.
Another significant change is the addition of a ski area category that would cover Breckenridge Ski Resort's rental properties. Gagen said resort executives have expressed support for the measure.
The new lodging fees paid by the resort would amount to about $100,000 annually. Its other business (restaurants, ski shops) would pay about $50,000. Currently, the resort voluntarily contributes about $150,000 directly to the Breckenridge Resort Chamber. The proposed BOLT changes would basically replace the voluntary contribution.
The ballot measure would also change the per-employee fee for restaurants to an amount based on maximum occupancy. The fee for retail operations would continue to be based on the number of employees.
Other changes would affect professional offices, as well as businesses and providers of professional services who are not based in town but do business there, as well as licensed, in-home businesses.
Although it's not included in the ballot language, the changes would also affect BRC membership. Under the proposal, every BOLT-holder is invited to become BRC members free-of-charge.
The BOLT revenues have covered about half of the town's marketing budget in recent years. Gagen said the fee structure just hasn't kept pace with inflation.
Bob Berwyn can be reached at (970) 331-5996, or at bberwyn@summitdaily.com.
