Hayden sees a drop in sales tax revenues
Thursday, April 12, 2012
Hayden started the year with a 25 percent drop in sales tax revenue compared with the first month of 2011.
Finance Director Lisa Dowling reported Thursday that the town collected $102,698 in sales tax revenue in January, but she said that total will have to be cut by about $22,000 because a local vendor misfiled and mistakenly paid sales taxes to Hayden. After that revenue is taken out, January 2012 sales tax collections will be 27 percent less than the $100,668 the town collected in January 2011.
Sales taxes in Hayden are collected two months before they are recorded as revenue, meaning January’s collections are the latest revenues the town can report. The town’s year-to-date collections for 2012 includes sales taxes that were collected in November and December 2011.
Dowling said 2012 collections are about 13 percent behind where they were at the same time in 2011. She said the decline could be attributed to many things.
“There are so many variables with sales tax collections, but we really believe (the drop) is because of the lack of snow and because the tourists just weren’t here,” she said.
The town received 69 percent of its sales tax revenue from Yampa Valley Regional Airport operations and rental car sales in January. Dowling said the town still is waiting to receive revenues for February and March, months in which the airport typically sees heavy traffic.
To reach Scott Franz, call 970-871-4210 or email scottfranz@SteamboatToday.com
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