Silverthorne sees 13th straight month of tax revenue decline | SummitDaily.com
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Silverthorne sees 13th straight month of tax revenue decline

CAITLIN ROW
summit daily news

SILVERTHORNE – Less than stellar sales tax collection in October means Silverthorne is facing its 13th straight month of recession.

Silverthorne’s sales tax collection was down 15 percent for October, or $88,000. Year-to-date numbers are down 14 percent – $976,000. September’s sales tax collection came out down 19.6 percent.

“It’s not meeting our (budget) projections,” said finance director Donna Braun, noting that the town originally planned for a 10-percent decrease and then upped it to 12 percent when numbers weren’t adding up. ” We’re close enough to the end of the year that we can easily make some adjustments, because we know what we haven’t spent.”

Consumer retail spending was up $10,936, or 10.5 percent, in October. Braun said this was because the town finished paying off its ESTIP (Enhanced Sales Tax Incentive Program) to Target for road work. Year-to-date, consumer retain spending is up 2.6 percent, or $33,068.

According to Braun, November and December are busy shopping months for Silverthorne, so there’s still time to even out the budget.

“December is our largest producing month,” she said. “We’re hoping we’ll finish out the year much better than we did throughout the year.”

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


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