Retail pulls in a chunk of cash
A bright light in the local economy was turned on in August for the town of Crested Butte. Sales tax revenue for the month reported a 5 percent increase compared to 2007 for the first time this summer.
Compared to August 2007, the retail and grocery sectors had more than an 11 percent increase in sales tax collections. While lodging sales tax decreased 12 percent, overall, the month of August grew 4.7 percent. For the year, the town sales tax collections are off about 2 percent.
Town finance director Lois Rozman was pleased with the August increase. “It is good to finally see a rise in sales tax,” she said. “It looks like some local retail shops did quite well in August. The Arts Festival also appears to have seen more business this year.”
For the year, the town’s bars and restaurants are running about even with 2007. The retail sector is off for the year about 4.5 percent while the construction, hardware and auto sector is off the most with a 15 percent decrease compared to 2007.
Overall, through August, $1,486,042 in sales tax revenue has been collected in Crested Butte, compared to $1,512,773 at the same time last year.