Estes Park’s general fund showed about 4.7% more money to work with than last July, even though year-to-date sales tax collections are 1.39% lower than those budgeted at the beginning of the year.
Overall general fund tax revenues are up 2.41%, slightly more than in the first seven months of the year, and of that shown by the overall area consumer price index tally of 2.1% from January through July. The Town’s finance office released details about the current sales tax status remitted by businesses last week.
Restaurant, retail, and lodging receipts increased over those in June, indicating increased economic activity.
While the grocery and construction sectors reflected decreases, it is important to point out that Safeway workers in Estes Park were on strike from June 15 to July 4.
As one merchant recently told the Estes Valley Voice, businesses adjusting their prices to cover increased costs could also increase sales tax collections.
Over the last 12 months, the CPI for the Denver-Aurora-Lakewood area increased 2.1%. The index for all items, not including food and energy, also increased 2.7 % over the year. Food prices rose 2.0 percent, while energy prices fell 7.7%.
Restaurant activity increased 3.4% year-to-date over 2024, compared to July sales in 2024, which increased just 1.8%.
Retailers reported 4.69% more in sales tax collections overall, although July’s sales provided 8.2% more in tax collections compared to July 2024.
Year-to-date lodging sales tax collections are 4.6% higher than in 2024 and 9.45% higher than in July 2024.