The sales tax revenue received last week for collections made during the month of August totaled $713,414.92, an increase of $53,841.25 or 8.16 percent compared to August 2013, according to a report from LeeAnn Martin of the Archuleta County Finance Department.
According to Martin’s report, sales tax revenue for August 2013 was $659,574 and for 2012 it was $631,318, which makes the average $645,416 for the same period over the last two years. Consequently, this month’s figure of $713,415 was also above the two-year average, up $67,999 or 10.5 percent.
Similarly, sales tax revenue for July 2013 was $654,372 and for 2012 it was $631,648, which makes the average $643,010 for the same period over the last two years. Consequently, last month’s figure of $756,331 was also above the two-year average, up $113,321 or 17.6 percent.
Finally, the sales tax revenue for June 2013 was $637,424 and for 2012 it was $637,361, which makes the average $637,393 for the same period over the last two years. Consequently, the previous month’s figure of $689,798 was also above the two-year average, up $52,405 or 8.22 percent.
So far this year, February has been the only month to show an over-the-year drop in sales tax collections and year-to-date revenue is up by 7.07 percent when compared to this time last year.
Breaking the sales tax report for July down by sector, revenue generated by retail trade — the largest portion of Archuleta County’s economy — went from $308,838 in 2013 to $336,463 in 2014, an increase of $27,625 or 8.9 percent.
The second largest portion of Archuleta County’s economy — accommodations and food service — generated $155,244 worth of revenue, an increase of $14,878 or 10.6 percent.
Arts, entertainment and recreation — another sector of the local economy largely controlled by the flow of tourism — brought in $9,864 worth of sales tax revenue, an increase of only $46.
As far as industry sectors related to the housing market, utility companies contributed $44,704, up $3,134 or 7.5, while real estate and rental revenue only garnered $10,666, down $3,193 or 23 percent. The construction industry, however, brought in $15,004, an increase of $1,491 or 11 percent.
Wholesale trade fell by 1.4 percent to $36,525, while manufacturing went from $35,615 last year to $38,090 this year. Mining also showed a decline with $4,718 worth of tax collection, a decrease of $2,419 or 33.9 percent.
Transportation and warehousing, scientific and technical services, and health care also declined. All other industry sectors showed gains over the year.