[BoulderCouncilHotline] September 2022 Revenue Report

[Wagner, Joel]

Good Afternoon,



The September 2022 Revenue Report<https://bouldercolorado.gov/media/9934/download?inline=> is now available online.



This report covers taxes collected by businesses through September 30, 2022. Sales and Use Tax based upon current economic activity increased by $14,056,270 or 12.8%. Construction Use Tax, which is highly variable on a monthly basis, increased 31.8%, while Motor Vehicle Use Tax declined by 5.1%, and Business Use Tax decreased by 6.9%.



Retail Sales Tax (including audit revenue and the 3.5% additional rec marijuana tax) increased by $11,757,026 (or 13.3%) when compared to YTD September 2021. This increase results in a compound annual growth rate of 6.6% compared to YTD September 2019. Price inflation in consumer goods and groceries is contributing to a share of the 6.6% annualized growth rate, but as discussed below, other large contributors include recovery in eating places, and large institutional sales in the computer related business sector and biopharma sectors.



Sales tax for most retail sectors are showing continued growth: Apparel Stores increased 14.8%, Home Furnishings increased 9.5%, Automotive Trade increased 2.9%, and General Retail increased 5.4%. Eating places continue to show strong signs of recovery, increasing 19.1%. Computer Related Business Sector, which includes large institutional sellers increased 62.0%, and All Other, which contains Biopharmaceutical businesses, increased 44.3%. Please refer to page 2 of the revenue report for a more detailed discussion of rolling twelve month performance in industry sectors in relation to inflation.



As always, please don't hesitate to contact me if you have any questions about this report.



Kind Regards,

Joel Wagner
Deputy Finance Director
[FINANCE_lockup_COBLogo]
O: 303-441-3871
C: 303-449-9326
wagnerj at bouldercolorado.gov<mailto:wagnerj at bouldercolorado.gov>

Finance Department
1136 Alpine Ave | Boulder, CO 80304
Bouldercolorado.gov<https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Furldefense.proofpoint.com%2Fv2%2Furl%3Fu%3Dhttps-3A__gcc02.safelinks.protection.outlook.com_-3Furl-3Dhttp-253A-252F-252Fwww.bouldercolorado.gov-252F-26data-3D02-257C01-257CWagnerJ-2540bouldercolorado.gov-257C88594f0cea3b449e312e08d845f92634-257C0a7f94bb40af4edcafad2c1af27bc0f3-257C0-257C0-257C637336283666795488-26sdata-3DHhVu5e-252BmJMEYqhjGviLepCugKBfQlumxmiHH2TwRvYQ-253D-26reserved-3D0%26d%3DDwMFAg%26c%3DBWp0MFdrMtLbz0k6Y8aaUWa8FoouxHd5amRBhtn2C98%26r%3DqErR9EN6RrCn4ohC4cyPWMRYJMiA-MszoWb31gQBZbc%26m%3DZwtpyekxckUqMb90OF77XfvI7jpfLqGBjy1Hr5-i0VM%26s%3DUADHfBxUfp4DUQ6uNVvsvKhHxqmxtjjV9y1iyOEWeJE%26e%3D&data=02%7C01%7CWagnerJ%40bouldercolorado.gov%7C163945e512c24355d47908d855c7609f%7C0a7f94bb40af4edcafad2c1af27bc0f3%7C0%7C0%7C637353662105258396&sdata=1goSYsXLw92hV9DFe7iMrWSVp6JfWGhJYMaCi635igo%3D&reserved=0>


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