Sales Tax through Feb 2021

Has the town of Buena Vista’s 17-month streak of month-to-month sales tax increases come to an end? Depends on how you look at it.

Comparing how much money was remitted from the state department of Revenue last February compared to this one, 2021’s returns are less than 2020’s by 6.9 percent.

However, last year, the town was reimbursed for a clerical correction to the tune of $116,076 on top of $212,808 of taxes the town brought in. Those two amounts combined was 71% higher than in February 2019, when the town recorded $191,997 in sales taxes.

The corrective deposit made up for an account that the state had not been remitting to the town for three years.

Disregarding the corrective deposit, sales tax still grew by 10.83% between 2019 and 2020.

When comparing the $212,808 the town generated in 2020 with the $305,868 it brought in this year, sales tax returns in February jumped by 43.73%, town treasurer Michelle Stoke said.

Two months into the year, that’s 39.42% higher than the 2021 budgeted revenue for the same period without regard to the corrective deposit the town received last year.

February has in the past been the slowest month of the year in sales tax activity in BV, and even with this year’s massive leap the month still brought in less than January, when the town brought in $310,784.

Discussing the “pretty big step” with the board of Trustees Tuesday, Stoke said.

“(Town administrator Phillip Puckett) and I were trying to figure out what this might be attributable to, and probably a large portion of that, not all of it, would be because of the factory in Colorado Center is paying new taxes and remote sales tax because of the equipment and steel and other building and construction materials that are being brought on site for that.”

Stoke was referring to the Fading West Development modular home factory, slated to be in operation by the fall, currently being built off of Gregg Drive.

Stoke also credited general increased activity in the town, LaGree’s food store, “and just the fact that our shoulder seasons are not as soft anymore.”

Between 2018 and 2019, February returns grew by 13.5%, and from 2017 to 2018 totals increased by just 1.7%.In January, returns grew by 18.1% from $263,148 in 2020.

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