Another record-breaking month for sales tax in Windsor
March 31, 2014
After record-breaking sales tax collections in January, the Town of Windsor collected its highest February sales tax on record this year, with total collections coming in at $507,565.
Collections so far this year have increased 40 percent from year-to-date collections in February 2013, Town Director of Finance Dean Moyer told the Windsor Town Board during its meeting Monday night. Year-to-date, town sales tax collections total $1,718,089 this year and totaled $1,219,672 at this time last year.
"The only other time we got really close to the collections in this February was in February 2005," Moyer said. "That was an anomaly, really. We started collecting our own sales tax in 2005 and in February of 2005 we got our final payment from the State of Colorado for collections they were holding — it was a transition thing — and we got a big payment there. Even with that, this February was our strongest month."
Moyer said in his finance report to the board that the town has budgeted $6 million in sales tax collections for 2014, meaning the town needs to collect an average of $500,000 each month to hit that target.
"We surpassed that mark without the aid of any unusual payments in what is historically our weakest collection month," Moyer said. "This is an indicator that bodes well for the rest of 2014."
Moyer said the town issued a total of 22 new business licenses in February.
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"This time last year we had 1,314 sales tax licenses, this year we have 1,396," Moyer said. "So in the course of the year, we added 82 sales tax vendors, which I think just in general helps our collections each month."
Construction numbers, however, continue to be down for the town again in February. Moyer said construction use tax through February 2014 is 39.38 percent behind where the town was this time last year, and single-family residential building permits totaled 32 last month, down from 53 in February 2013.