Sales Tax Update
May sales tax collections, based on retail sales made in April 2011, but also includes delinquent collections from prior periods.
Due to the .85% tax increase, tax collections are no longer an accurate comparison for year-to-year activity. Instead, the monthly sales and use tax report will also include net taxable amounts, which are the amount of goods sold or purchased that are subject to sales or use tax.
Please visit http://www.fcgov.com/salestax to read the complete report.
- Net Taxable Subject to Sales Tax: $176.7 million, an increase of 3.6% compared to May 2010.
- Keep Fort Collins Great collections: $1.48 million
- Nationally, April sales tax collections increased 7.6% compared to Fort Collins' increase of 3.6%.
- Net Taxable Subject to Use Tax: $24.8 million, a decrease of 36% compared to May 2010.
- Building Permit receipts Decreased 9.7 % compared to May 2010.
- Residential Permits pulled: 80 remodels, 34 new construction. In May 2010, there were 53 remodels, 10 new construction permits.
- Commercial Permits pulled: 30 remodels, 3 new construction permits. In May 2010, there were 18 remodel permits, 1 new construction permit.
- Sales Tax Licenses: The City received 130 new applications for sales tax licenses and 43 businesses terminated their licenses in May. There were 10,465 active sales tax licenses at the end of May.