2016 Year in Review: Sales tax revenue booms in Summit County
Towns in Summit County are still pulling ahead for 2016 sales tax revenue.
Both Dillon and Frisco have reported revenue through the month of October. For year-to-date taxes, the towns are 3 percent and 10.36 percent ahead of 2015, respectively.
For the month of October, Dillon fared less well, falling $46,193, or 12 percent, behind the month’s revenue compared to the same time in 2015. The town has been behind since August when compared to last year’s numbers. In May and July, the town pulled ahead by less than a percent. The town is still in the black due to strong months in April and June, when monthly revenue was more than 14 percent ahead of last year. The early months of 2016 also had strong revenue. Year-to-date revenue for the town is a little more than $5 million.
In Frisco, sales tax for October brought in $29,982 more in revenue than the same time last year. Marijuana sales tax revenue through October has already surpassed what the town did in the whole of 2015 by $9,019. Sales tax from restaurants fell behind in October for the first time this year. For year-to-date revenue, numbers are still ahead by 11.68 percent. Vacation rentals in October saw an increase in revenue of $5,254. This was a 274.22 percent increase over last October. Current year-to-date revenue is at $7 million. Chad Most, the revenue specialist for Frisco, said that numbers continue to do well in the town because of its strong business community.
“We’re grateful that we’ve become a destination not only for guests and second-home owners, but for businesses,” he said.
For the past several years, December has been the biggest month for sales tax revenue in Frisco. In 2015, the town saw $875,210 in revenue during December.
Silverthorne and Breckenridge have reported sales tax revenue through September.
In Breckenridge, year-to-date sales were up 7.77 percent compared to last year. Brian Waldes, the director of finance and information technology, said that he projects the town will finish the year 5.5 percent ahead of revenue in 2015. The town saw strong increases in net taxable sales throughout the whole of 2016, except for April, which fell behind by $655,741. Marijuana net taxable sales saw double-digit growth every month, with year-to-date net taxable sales hitting more than $7 million. The strongest month in Breckenridge was March, which brought in $79,062,645 in net taxable sales.
September sales tax revenue in Silverthorne brought in more than $1 million. Year-to-date numbers are nearly 4 percent ahead of last year at $7.7 million. The largest portion of revenue for the town comes from the Outlets at Silverthorne. Through September, the outlets have brought in $1.79 million for 2016. December is one of the biggest shopping months of the year, and has been the strongest month in Silverthorne for the past several years. In 2015, the town saw $1.2 million come in from sales tax revenue in December. It was the only month to bring in over $1 million in revenue that year. This year, both June and September hit over the million-dollar mark and were 8 percent ahead of the same time last year.
Bill Wallace, the treasurer and public trustee for Summit County, said that as of yesterday, the county had collected $91.3 million in property tax. He added that some of this comes from a tax lien sale that happens in October. This year, the sale brought in $546,000 in revenue.
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