KAJX

August tax collection falls flat

Oct 6, 2015

2015 has been a robust year in Aspen, but the newly-released August consumption tax report shows a flatline.


  Traditionally August sales collections make up 9.5 percent of annual funds collected. This year, tax revenue came in almost identical to August 2014. Some industries picked up in late summer, but lower sales in other areas balanced out the total profits.

 

Pete Strecker, Assistant Finance Director for the City of Aspen, says there was significant growth in the liquor and marijuana industry but a decline in luxury goods, bars and restaurants.

In contrast, July’s retail sales were up five percent relative to the same period in 2014. Overall, revenues are slightly higher than had been budgeted at this point in the year. The city council is currently reviewing next year’s budget, examining each department during a series of special work sessions.