Silverthorne sales tax revenues rise in September
November 26, 2008
Silverthorne — September sales taxes collected in Silverthorne have increased consistently over the past five years – including this one, despite national economic woes.
However, the year-to-date sales tax collections in 2008 has dropped $53,571 over 2007 collections.
“This (month is) unusual in that it was making up from missing sales tax in prior months,” said Donna Braun, Silverthorne’s finance director. ” … It’s true to the year, but it’s kind of misleading for the month of September. We did decent in September, so it was probably up from last year, even with the cushion.”
This past September, $831,597 was collected in sales taxes, up $75,371 from 2007 and $216,454 from 2004.
“September was a beautiful month for weather, so that has a lot to do with visitors,” Braun said. “Certainly everyone is tightening their belts right now. I don’t expect this to continue.”
The Outlets at Silverthorne contributed 36 percent of sales taxes to the town in September with $299,505. In September 2007, the Outlets brought in $256,705 in sales tax.
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But the year-to-date sales tax contributed by the outlet stores dropped from $2,259,100 in 2007 to $2,165,636 in 2008.
“I would attribute it (the decrease) a lot to renovations of three villages and store expansions,” said Jane Esser, marketing director at the Town of Silverthorne. “New tenants have been brought in. Occupancy has gone up. Our focus it to get 100 percent occupancy.”
Esser said she is pleased with traffic numbers coming into the center. She’s seen a steady flow of shoppers.
“The focus of Outlets at Silverthorne is to have a strong marketing presence,” Esser said. “We’re moving forward – turning it into a tourist attraction with buses and vans. And people are coming in from the Front Range. … Shoppers are a little more frugal, looking for value. Outlet shopping is good for discount shopping.”
Looking into the future, Esser said the economy will benefit with the arrival of snow.
The auto industry, in comparison, only brought in $63,615 for September sales taxes, but that was up from $56,583 in September of 2007.
Other sales-tax contributors include building retail, consumer retail, food/liquor, lodging and services.
“We lag behind national trends,” Braun said. “The state of Colorado tends to lag, and on top of that, the mountain communities tend to lag behind the rest of the state. I think we’ll start to see us catching up with the economy pretty soon.”
Braun will look to October to gauge future trends.
“We’re fortunate that we’re on the Interstate 70 corridor,” she added. “It makes us a convenient escape.”
Silverthorne is about 85 miles southeast of Steamboat Springs, and is home to a Target store and several outlet malls.
For the Summit Daily News’ version of the story, click here.