Frisco’s May sales tax collection takes a dip | SummitDaily.com
YOUR AD HERE »

Frisco’s May sales tax collection takes a dip

CAITLIN ROW
summit daily news

FRISCO – Though March and April’s sales tax collection was slightly up in Frisco, funds in May took a dip.

According to Frisco’s financial specialist Chad Most, the town was down 6.12 percent in May, or $18,652. April’s total sales tax was up over 2009 by only 0.98 percent, or $3,430.

“It puts a halt to stabilization and the small amount of growth trend for March and April,” Most said. “But May is our lowest producing month to begin with. There’s not a huge amount of tourism, people travel out of town, and there’s not a huge amount of development. It also affects the retail side of things and restaurants.”

Year-to-date, Frisco is now 1.41 percent down, with a loss of just under $30,000.

“Currently, we’re not redoing our budget projections for the year,” Most said.

Despite the drop, three categories were up in May – restaurants (up 4.86 percent), clothing (up 9.07 percent) and health and beauty (up 208.89 percent).

“There was new business in those categories, so that always helps,” Most said.

Town officials also hope to increase its 2010 sales tax acquisitions with revenues generated from the Frisco Peninsula Recreation Area redevelopment project – construction is underway and a new tubing hill should potentially be open for Thanksgiving.

SDN reporter Caitlin Row can be reached at (970) 668-4633 or at crow@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.

For tax deductible donations, click here.
 

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