Frisco sales tax comes up short in Jan.
summit daily news
FRISCO – January’s sales tax collection in Frisco was less than expected, but finance specialist Chad Most said he’s glad declines were only in the single digits.
January 2010 revenues were down 7.13 percent, or just over $35,000, Most said. January 2009 was down 12.87 percent from 2008, or $74,000.
According to Most, there were some outstanding collections for January that would help bolster town totals in months to come.
“We are on the path to more stability,” he said. “We’re not exhibiting any growth, and there’s no indication that we’re moving back to 2007 or 2008 totals. But there’s some good signs that we’re beginning to flatten out. … As far as the real-estate investment fee, we’re seeing some growth over last year.”
The Town of Frisco’s real-estate investment fee is in fact up 68 percent through the end of February from last year, Most said. There’s a $21,500 dollar difference from 2010 to 2009 – that’s not a huge dollar amount, but it’s an improvement, he added.
Most also said Frisco’s hotels and vacation/rental categories are still seeing sales-tax declines in the double digits – 14 percent and 27.36 percent respectively. The grocery category was down 12.85 percent.
“The majority of the declines are more related to snow conditions than continued economic downturn,” Most said. “We will wait for first quarter numbers in May to figure out if the budget needs to be adjusted.”
The Town of Frisco hopes to bolster its 2010 sales tax collections with revenues generated from the peninsula recreation redevelopment project – a new tubing hill could be open for Thanksgiving.
Caitlin Row can be reached at (970) 668-4633 or at email@example.com.
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