Vail sales tax collections drop in March
Vail, CO, Colorado
Vail’s March sales tax collections dropped nearly 25 percent compared to the same month in 2008.
Figures released Thursday by the town show that lodging was the hardest-hit sector ” down 33 percent ” followed by the retail sector, which was down 22 percent.
Sales taxes from lodging are down most outside Vail Village and Lionshead. Those areas were down more than 40 percent in March.
All of the town’s reporting businesses lag behind last year, thanks mostly to a slumping national economy and the fact Easter was in March last year and in April this year. But liquor sales were down least. For the year, liquor sales are down just more than 1 percent.
So far in 2009, Vail’s sales taxes are down 17.9 percent from the first three months of 2008. The lodging business has taken the biggest fall, down 24.6 percent for the year so far.