Breck budget 5 percent ahead of 2003 | SummitDaily.com
YOUR AD HERE »

Breck budget 5 percent ahead of 2003

BRECKENRIDGE – Breckenridge sales tax dollars continued a gradual upward climb during July – with retailers and other business owners reporting revenues of $20.6 million – but dipped slightly in August to reported sales of $17.4 million.The last time sales tax revenues were off was in March – and then it was only by a half percent.”This isn’t a huge one either,” said Lance Hillis, auditing administrator for the town. “All in all, things are good.”On the year, revenue is up 5 percent from last year.Retail, restaurant and lodging – the so-called tourism sector – reported sales of $11.18 million in August, down 4.9 percent for the same month last year. Retail sales by themselves were down 4.3 percent, to $4.3 million,Restaurant sales took the most dramatic fall, especially when compared to August of last year when numbers spiked. Last August, restaurant and bar owners reported sales of $5.06 million; this year, sales were down 12.4 percent to $4.21 million.Grocery and liquor sales were down slightly – 3.5 percent – to $2.40 million.”August is down because Labor Day landed completely in September this year,” Hillis said. “It’s going to have an impact. We just need to be patient and see. I think we’ll be back in September.”Short-term lodging saw a spike of 8.7 percent over last August. One lodging company reported four times as many sales this August as it did last year, Hillis said.Another sector that continues to do well is supplies, generally in construction-related fields. That sector reported sales of $1.74 million, an increase of 24.2 percent over the same period last year.As of Oct. 19, Real Estate Transfer Tax revenue, the 1 percent collected upon the sale of homes, stood at $259,408. So far this year, that fund has collected $2.76 million. Those revenues are up to date because they are collected upon sale of the homes and do not have to go through the state like other taxes before being redistributed to municipalities.”Budget-wise, we’re doing fine,” Hillis said. “This is the first month we’ve seen that’s been down in a little while, but it should have been anticipated all along.”Jane Stebbins can be reached at (970) 668-3998, ext. 228, or at jstebbins@summitdaily.com.


Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.

 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User