Surge in sales, lodging tax revenues continues
Two key measures of Glenwood Springs’ economy continue to remain strong in early 2006, following a healthy recovery in 2005.The city’s sales tax revenues are up 38.6 percent in February over the same month a year earlier. Removing a quarter-cent sales tax increase approved by voters last fall from the equation, the increase is still 29.2 percent.Glenwood Springs’ lodging tax income was up 14.1 percent for the same month over February 2005.Sales tax revenues reached $953,682 in February, compared to $688,067 in February 2005. Part of that was due to the decision by voters to raise the city sales tax from 3.45 to 3.7 percent to fund street projects. However, the bulk of it is attributable to the city’s continuing economic recovery, particularly since the opening of the Glenwood Meadows commercial complex last fall.February’s increase is slightly below the revised 40.8 percent increase in January (or 31.3 percent, when the sales hike isn’t factored in).The accommodations tax growth is down a third from January’s 21 percent increase. Still, the tax brought in $35,163, up from $30,807 last February, and above the $34,457 generated this January.The lodging tax grew 10.5 percent last year over 2004. Sales tax revenue increased 11.1 percent in 2005.
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