Frisco finally reports growth for sales tax collection
summit daily news
Vail, CO Colorado
FRISCO – There’s light at the end of the tunnel, finally. Frisco’s March sales tax collection numbers are up. The town reported a 4.43 percent growth for the month, or just under $24,000. Year-to-date, the town is still 1.01 percent down over last year’s first quarter.
“It’s the first growth since March of 2008,” said Frisco’s revenue specialist Chad Most.
Frisco was 0.7 percent down over February of 2009, or just over $3,000 down. January 2010 revenues were down 7.13 percent, and January 2009 collections were down 12.87 percent from 2008.
This is good news for the town, since its goal for the year it to remain flat with 2009 and keep its budget as is. With continued growth, this may now be possible.
Specific categories see growth
Frisco’s most significant sales-tax growth was seen in the following categories: utility, recreation, and health and beauty categories.
The health and beauty category, which encompasses Frisco’s two medical marijuana dispensaries, had the most notable growth. It was up 123.45 percent in March, or $3,964, and 163.74 percent for the year. Recreation was up 12.19 percent for March, or $4,410; year-to-date, it’s up 12.74 percent. And the utility category was up 86.61 percent for March, or $31,031; year-to-date, it’s up 30.85 percent.
Other notable categories include restaurants, which were up 2.84 percent in March, and 4.11 percent year-to-date; hotels and inns, which were down 3.08 percent for March, and 12.61 percent for the year; and general retail, which was down 3.17 percent for March, and 1.97 percent for the year.
“It’s certainly a positive sign and we welcome any growth,” Most said. “The businesses out on Main Street and Summit Blvd. are hanging in there.”
Most also noted that Frisco’s lodging tax was up 6.77 percent in March – another good sign.
“We did have some growth in vacation rentals, but not hotels,” he added.
While collections seem to be stabilizing, the Town of Frisco also hopes to increase its 2010 sales tax acquisitions with revenues generated from the peninsula recreation redevelopment project – a new tubing hill could potentially be open for Thanksgiving.
“It’s good to see some growth,” Most said. “We’re still on track to meet budget projections for 2010.”
Caitlin Row can be reached at (970) 668-4633 or at email@example.com.