Summit County November tax revenues exceed $4 million | SummitDaily.com

Summit County November tax revenues exceed $4 million

Dollar growth chart
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Sales taxes rates by entity

Unincorporated Summit County: 5.775 percent

Blue River: 8.275 percent (3.4 percent lodging tax not included)

Breckenridge: 8.275 percent (3.4 percent lodging tax not included)

Dillon: 8.275 percent (2 percent lodging tax not included)

Frisco: 7.775 percent (2.5 percent lodging tax not included)

Montezuma: 7.775 percent

Silverthorne: 7.775 percent (2 percent lodging tax not included)

Keystone: 5.775 percent

Copper Mountain: 5.775 percent

For the month of November, Summit County tax revenues exceeded $4 million, reflective of a strong winter season. Breckenridge saw the largest increase for that month, up 9.96 percent year-to-date and 10.3 percent for November.

The town collected more than $413 million in net sales in 2015, translating to about $34 million in sales tax. For November alone, the town collected more than $2 million. Retail, restaurants/bars and short-term lodging make up the three biggest pieces of the pie, accounting for more than 70 percent of the town’s sales-tax revenues combined.

Frisco also saw substantial gains for the month, bringing in $854,748, an 8.88 percent increase from Nov. 2014.

“Our speculation is that there are more visitors to the area,” Frisco public information officer Brodie Boillard said. “In general, Colorado is seeing more visitors, and Frisco has a great location and a great reputation, and this is reflected in the numbers.”

The town’s largest increases per category included grocery, liquor and marijuana, possibly spurred by stores in the Basecamp shopping center, which began development in 2014. The addition brought a Whole Foods in April 2014 and Base Camp Wine and Spirits later in December. The town saw a 30 percent year-to-date increase on grocery sales taxes, bringing in a total of $$1,376,132 and a 31.9 percent year-to-date increase for liquor taxes, bringing in $265,294.

As for marijuana sales, the town saw $153,300 — a whopping 80.45 percent increase from last year.

“It seems that everyone across the state is seeing an increase in marijuana sales, and we are no different with that trend,” Boilard added.

SILVERTHORNE SALES

Silverthorne saw a total of $724,614 in sales taxes for the month of November, up 6.6 percent from Nov. 2014.

“It’s been great,” Silverthorne revenue administrator Kathy Marshall said. “I think the economy’s just doing really well, and I think when people have money to spend, they do a lot of recreation.”

The town’s largest increases last year were linked to building, up 18.9 YTD. Excise tax collections were up 60.7 percent, with the town seeing 44 new residential permits last year.

“I think it’s been driven by new construction,” she said, noting that several rentals for large construction equipment are based out of Silverthorne.

“I think the demand for housing has picked up interest,” she added. “Homeowners are probably remodeling their residences for the ski season or the holidays.”

As far as excise tax is concerned, she said additions to Angler Mountain Ranch, a new development at the base of Tenderfoot Mountain, was likely a primary contributor. New commercial buildings would also contribute to the tax.

Despite a strong November overall, the town also saw a few decreases prior to the holiday rush. Lodging taxes were down 7.5 percent for the month, and outlet sales taxes were down 8.43 percent for the month.

“We didn’t get snow until pretty late in November,” Marshall said. “I think December will bounce back.”

The monthly finance report noted shopping traffic was down a bit for December, possibly linked to the extremely cold weather. Restaurants in the area were also hit by the recent Chipotle E-coli scare, making for less foot traffic at the Mexican restaurant and surrounding establishments.

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LOOKING AT LODGING

While Dillon sales taxes were down about 4 percent for November, at $394,891 for the month, lodging taxes saw a significant boost from last year. The town saw a 33.86 percent increase in lodging tax collections from Nov. 2014, for a total of $8,421.

Year-to-date, the numbers were less dramatic but still showed an 11 percent increase, with a running total of $146,082 for 2015.

Dillon marketing and communications director Kerstin Anderson said the trend was possibly tied to growth in the Front Range, with more visitors coming into the county on weekdays, as well.

“I think there was just the opportunity, and more availability,” she added.

Note on the headline: The total listed includes unincorporated Summit County, Dillon, Frisco, Silverthorne and Breckenridge.


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