March sales in Aspen plummet
Aspen, CO Colorado
ASPEN, Colorado ” Sales tax figures for March were down 24 percent from the same month last year, according to the city of Aspen’s consumption tax report.
Industries that are dependent on tourist-oriented sales did not fare well. They include sports equipment and clothing, clothing stores, specialty retail and tourist accommodations. Those four segments represent 50 percent of total annual taxable retail sales, according to city officials.
Categories that are dependent on local-oriented sales were either up or slightly down, according to the report. They include food and drug stores, general retail and utilities, and represent 28 percent of total annual taxable retail sales.
Lodging tax collections for March were down 36 percent from the same month in 2008. Year-to-date collections through March were down 29 percent from 2008.
Aspen’s portion of Pitkin County’s 3.5 percent sales tax for February was down 26 percent from 2008.
The year-to-date real estate transfer tax that funds the Wheeler Opera House through April was 4 percent ahead of collections for the same period in 2008. The real estate transfer tax that funds the affordable housing program through April was 3 percent ahead of collections for the same period in 2008.
Both taxes are reflecting a year-to-date increase from 2008 ” most likely as a result of closings on units at The Residences at the Little Nell and other fractional projects.
an opportunity to develop land at the edge of town, within eyesight of Interstate 70, has town officials excited about the potential for a long-lasting revenue infusion.