Up 14 percent in June, Breckenridge’s taxable sales blow doors off June 2017
According to each town’s latest financial report, all four of the largest towns in Summit County finished the month of June with rising sales and remain through the first six months of 2018 compared to the same timeframe last year.
Town June vs June 2017 Year to date
Breckenridge 14.10 percent 7.81 percent
Frisco 7.37 percent 6.78 percent
Dillon 7.96 percent 12.69 percent
Silverthorne 2.57 percent 7.24 percent
There really wasn’t anything too remarkable about June’s sales tax reports across Summit County’s four largest towns, except for the fact that the upward trend has continued yet another month.
Like Breckenridge director of finance Brian Waldes has been saying over and over again, the most extraordinary aspect of the town’s monthly sales tax reports is the continually rising receipts month after month. He noticed June tracked along those lines.
In June of this year, the most recent month for which figures are available, Breckenridge was 14.1 percent ahead of June 2017, the most dramatic month-over-month increase across the county.
While Waldes explained that June is a relatively low-dollar month compared to Breckenridge’s busiest months of the year, it still helped increase the town’s net taxable sales to over $325 million through the first half of the year, a healthy 7.81 percent ahead of last year. The town’s real estate transfer tax has also kept pace, he said, adding that “nothing really changed direction in June.”
That’s also true for Silverthorne, which had its second million-dollar month of 2018 for sales tax revenue this June. The town previously broke the $1 million-mark with March’s sales.
Up 2.57 percent in June and 7.24 percent year to date, Silverthorne has seen monthly gains every month so far this year. Amazingly, the last time the town recorded a month-over-month decline was October of 2017.
Those down months have been exceptionally rare, however, with Silverthorne experiencing growth 50 out of 54 months dating back to January 2014.
In June, the most significant year-over-year change for Silverthorne came in its food and liquor sales category — up 11 percent over June 2017. According to Laura Kennedy, the town’s director of finance and administrative services, no one establishment was responsible for the increase. Rather, it simply indicates a healthy economy in which more people are going out to eat.
The largest decrease in Silverthorne’s sales taxes for the month was in consumer retail, as the sector fell 1.14 percent year over year. Excluding the outlet mall, consumer retail is down 3.54 percent year to date. Like the spike in food and liquor, the decline in consumer retail cannot be attributed to any one business.
While retail is slightly behind, all other sectors in Silverthorne are tracking ahead through the first six months of 2018. Silverthorne’s service sector is up the most with both the highest-dollar increase ($150,275) and the steepest growth percentage (58 percent) year to date.
Meanwhile, Dillon’s sales rebounded in June from the two flat months preceding it. The town began the year with wild growth January through March — as high as 31 percent — before the double-digit increases tailed off in April and May.
With June coming in a respectable 7.96 percent ahead of June 2017, Dillon is up 12.69 percent year to date, giving the town the highest growth rate among Summit County’s four largest towns through the first six months of 2018.
June wasn’t a bad month for Frisco either, where sales tax receipts were up 7.37 percent over June 2017 and remain 6.78 percent ahead year to date.
Frisco’s biggest three sales tax categories — restaurants, grocery and general retail — had another strong month with general retail (8.62 percent) and grocery (24.15 percent) up while restaurants were flat (-0.69 percent).
In Frisco, pot sales posted their highest month-over-month percentage growth of the year, spiking 12.49 percent in June, but marijuana sales are up only 0.95 percent year to date.
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