Grand County sees growth in tax revenues
June 14, 2013
Both quarterly lodging and sales tax numbers are up, which might indicate the beginning of the end for Grand County's recession.
County finance director Scott Berger presented tax numbers at a commissioners meeting on Tuesday, June 11. Sales tax revenue grew by 3 percent since last year, and lodging tax revenue increased by 9 percent since last year. Lodging tax increased by the same amount in 2012.
"We have been seeing increases in sales and lodging taxes for the last four years," Berger said when asked if the numbers indicated economic recovery. "In my opinion we are beginning to recover some of that lost ground."
According to Berger, both sales tax and lodging figures bottomed out in 2010, but numbers have grown steadily in the three years since. Increased income from the county's 1 percent sales tax means residents and visitors are spending more at local businesses. Income growth from lodging tax, set at 1.8 percent, indicates greater tourism activity.
Tax revenue to date, which includes the bulk of the ski season, is at $1.51 million, compared to $1.47 at the same time last year and $1.42 in 2010.