Through May of 2019 the city of Montrose was experiencing a nice increase in collected sales and use tax. This week’s Business Buzz looks at the breakdown from the city of Montrose provided report. Plus, a look at building permits issued through June 2019.
By the numbers …
The total sales and use tax collected for May of 2019 was down over prior year by 3 percent; $1,499,994 was collected. This is the first time in 2019 there was a drop year over year.
Year-to-date sales and use shows an increase of $210,695, versus the prior year and an increase of $544,468 over budgeted revenue.
Retail sales came in at a 4.5-percent increase to prior year to date numbers, with a slight increase in May of $24,296, but lacking compared to increases from the first four months of this year. Total retail sales tax collected through May is $6.25 million, compared to $5.98 million prior year.
Construction use tax took a big hit year over year in May from $137,089 to $60,391. Overall year to date the tax revenue is down $56,332.
Use and auto tax collected year over year so far in 2019 is flat while May saw a 4.6-percent increase year over year.
Montrose Rec District has a 2.7-percent year-to-date increase over 2018 with a total of $695, 134 collected. Hotel excise tax is up nicely with an 18.1-percent increase. Restaurant excise tax slightly improved over to 2018 at 2.6 percent.
Year-to-date numbers for the retail enhancement program shows a total of $138,628 collected for a 3.5-percent increase over 2018.
Downtown Montrose according to provided charts is flat year over year, while both sides of Townsend Avenue show a slight increase. Home based businesses tax collected is in a nose dive. Taxable retail sales outside of Colorado is showing a year to date increase.
Building permit numbers and valuations through June 2019
Overall ,134 building permits have been issued from the city of Montrose. Total valuations come in at $19.94 million:
• Sixty-six single-family residence permits issued at a valuation of $11.30 million.
• Two two-family residences for $245,000; eight apartments/condos for $955,000; 16 residential remodels and add-ons for $287,000; commercial remodels/add-ons came in at 14 units at $1.38 million.
• There was one garage for $22,500, one office for $2,179,555, plus 11 accessories for $2.376 million, 12 manufactured homes at $665,000 and three industrial units at $530,000.
Dennis Anderson is group publisher for Wick Communications, Alaska and Colorado. He can be reached via email at firstname.lastname@example.org.