September town sales tax revenues showed a 5% rebound over those received in August.
While that amount is a definite improvement from the 2023 to 2024 August downturn, it only improved the overall annual decrease in sales tax collections of 3.71% seen in August to 3.66 % in September.
Several positive visitation indicators grew during the past month. Visits to the Visitor Center were up 7.35% over 2023, with total annual visitation growing to 319,474 for the year so far. In 2023, that total was 297,590 Shuttle ridership went from 92,883 to 101,479, a 9.25% increase year-to-date over that in 2023.
The lodging sector of business showed the greatest amount of growth in September as it reflected an increase in sales tax collections of 19.18%, or $153,168 over September 2023.
According to the monthly report issued by Sharla Beesley, grant coordinator for the town who issues the monthly finance reports, that calculation was boosted by $99,272 in delinquency filings, including late returns the state department of finance received from several businesses.
Even so, Beesley said in her report, the shows an increase in economic activity and includes some possible lodging businesses that did not file returns in 2023.
Lodging taxes remitted to the town do not include any marketing taxes due on lodging taxes due to Visit Estes Park. Those fees are paid separately to the State of Colorado before being remitted to VEP.
Sales tax collections on grocery purchases increased 10.67%.
As seen in August, those selling retail goods saw a general downturn in business as September sale tax receipts dropped 7.91%, or $35,186, in September 2024 versus September 2023. Delinquent returns were higher by $7,490 in 2024, including returns filed by those who did not file late returns in September 2023.
However, Beesley’s report surmises that after backing out delinquency filings, this industry experienced a decrease of approximately $27,696 which appears to indicate economic downturn and possible late filers.
Sales taxes are collected in arrears. Taxes collected by merchants and other businesses collected in September are remitted to the state in October and received by the taxing entity in November. Final annual receipts will not be received by taxing entities such as the town until February.