Breckenridge sales revenue takes slight dip in May | SummitDaily.com
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Breckenridge sales revenue takes slight dip in May

JANE STEBBINS

BRECKENRIDGE – Tax revenues in Breckenridge took a slight dip in May, but nothing that town financial officials didn’t expect.”It’s usually the slowest month of the year,” said auditing administrator Lance Hillis. “People don’t come here in May; it’s pretty much the locals and a few visitors. I don’t put much weight in it.”The town collected $343,270 in sales tax revenue, a decrease of 1.8 percent when compared to May of last year. Lodging tax revenue decreased 8.7 percent compared to May 2003, but is up 5.6 percent year to date.The retail, restaurant and lodging sector, however, took a 9.4 percent hit when compared to May 2003. Specifically, retail was off 8.1 percent, restaurants and bars were off 9.9 percent and lodging was off almost 11 percent.For the first five months of the year, however, the town is faring better than it was last year. Sales tax collections were up 5.8 percent when compared to the first five months of 2003, and accommodations tax revenue is up 5.6 percent.And as has been the case for months on end, Real Estate Transfer Tax (RETT), which is money generated from a 1 percent tax on real estate sales, was up 79 percent in June and 21 percent for the first six months of the year.RETT is collected when the sale is complete and doesn’t go through the state, so the town has those figures immediately. Other taxes are funneled through the state and can take up to eight weeks before the town knows exactly how much it has collected.Grocery and liquor sales continue to increase, possibly reflecting the growing year-round population. That sector was up 1.2 percent in May, and is up 3.8 percent for the first five months of the year.And taxable supplies – construction material – took a 37.3 percent hike, bringing it to the best May on record, with anticipated collections of $1.192 million.If revenue collections continue the way they have been for the first half of the year, town officials anticipate collecting an extra $600,000 before the year is out, said town manager Tim Gagen. Yet, it’s still too early to project how the summer is faring.”I’ve heard mixed things,” Hillis said. “Some people are doing well, others feel they could be doing better. We had a good winter, the off-season held its own, and hopefully summer will do the same. I wait to see the numbers.”Jane Stebbins can be reached at (970) 668-3998, ext. 228, or at jstebbins@summitdaily.com.


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