Sales Tax update

October Sales Report, reflecting activity that occurred in September 2009. The next sales tax report will be released on December 21.

Sales Tax:

$5,594,997 an increase of 0.5% compared to October 2008. The October collections are $92,466 higher than the amount expected according to the sales tax seasonal patterns.
The City received a one-time sales tax payment of approximately $131,000 in October 2008 from a taxpayer in the Home Furnishings & Consumer Electronics category, in addition, the City received a sales tax payment of approximately $427,000 in October 2009 from a taxpayer in the Building & Construction category. After these one-time payments are deducted, total sales tax collections for October 2009 would be down 4.9% and the year to date sales tax collections would be down 4.8%.

At the national level, September retail sales, reported in October, declined 6.4% compared to the increase in Fort Collins sales of 0.5%.

Use Tax:

$761,046 in October. Collections decreased 8.4% compared to October 2008. The City is behind budget projections for the month by $98,316 when compared to historical data.

Building permits:

Receipts decreased 22.7%

Residential Permits pulled:

72 remodels, 15 new construction. In Oct. 2008, there were 53 remodels, 37 new construction.

Commercial Permits pulled:

19 remodels, 0 new construction permits. The same numbers occurred in Oct. 2008, there were 19 remodels, 0 new construction permits.

Sales Tax License:

96 net new licenses were processed in October.