New construction drives Summit County sales tax revenues in April

In the transition to shoulder season, sales-tax revenues countywide still rose above 2015 levels. Silverthorne especially reaped the benefits of a strong construction year, with several projects down the pipeline.

Through the month of April, the town saw a modest increase in sales-tax revenues year-to-date, up two percent from last year bringing in just over $3.16 million. The town’s excise-tax collections soared, on the other hand, up 440.7 percent for the month and 259 percent year-to-date.

The town’s construction boom is focused on new residential development permits, Silverthorne revenue administrator Kathy Marshall noted.

“We’ve been going crazy,” she said. “We’ve got a lot of development going on.”

In April alone, the town saw 25 new permits, compared with six permits in 2015. Between developments at Angler Mountain Ranch, Maryland Creek Ranch and a new set of residences next to the rec center, business is booming.

“There are big pieces of equipment everywhere in the town it seems,” Marshall said.

To contrast, sales-tax collections for Silverthorne’s building retail sector decreased by seven percent for the month. The sector is Silverthorne’s second largest for sales tax, bringing in upwards of $132,000 — surpassed only by consumer retail.

“That’s probably going to change in the next few months,” Marshall said. “It’s hard to break ground when it’s frozen.”