The Town of Snowmass Village’s most recent sales tax figures suggest continued strong growth for the town’s coffers as June revenue totaled $116,799, an 11.6 percent increase compared with the same month in 2018.
The increase came from all sectors, with one notable exception: Restaurant sales tax collections fell 21 percent from June 2018, to $13,133. However, according to town staff, the numbers don’t reflect the real totals, as some restaurant sales taxes for the month has yet to be collected. Once all the taxes are in, they are likely to show an increase, as has been the case so far for the other months in 2019.
The sales tax on lodging rose 15.3 percent to $39,393. General retail was up 5.5 percent, generating $15,148. Construction-related retail experienced a large increase of 22.2 percent, to $13,723.
Sales taxes in the miscellaneous category more than doubled, rising to $2,957, a leap of 133.8 percent. E-commerce was up 49.9 percent to $6,242. The food/drug/liquor store category rose 8.5 percent to $12,572, and utilities/telecommunications netted $10,496, a gain of 24.4 percent.
Collections of the lodging tax for the month totaled $86,141, up $5,792 from June 2018. That figure represents a 7.2 percent increase, well below the rates seen in March, April and May, which increased 31.2, 29.3 and 69.4 percent respectively.
Real Estate Transfer Tax collections saw large year-over-year gains during June, rising 140.9 percent to $420,917. Looking back two years, to June 2017, the RETT collection was $115,625, according to the finance department’s report. The town collects a RETT of 1 percent on real estate sales, a tax that has been in place since 1986, though it began as half of 1 percent.
The excise tax fund, which homeowners can use in certain free-market neighborhoods to buy additional square footage beyond what is allowed by their underlying zoning, saw no contributions in June. During the same month in 2018, the fund generated $59,830.
Snowmass’ excise tax was approved by voters in 1999 and enacted in 2000. In 2008, the tax, which helps support the town’s affordable housing fund, was reauthorized in perpetuity.