After subtracting out the results of 2011 audits in the Transportation and Warehousing sector (which amounted to an additional $267,854 in sales tax revenue last year, far more than is usually collected), 2012 year-to-date collections are up 6.35 percent from the same time period last year — up 6.6 percent if that sector’s collections are left in this year’s numbers.
Some market sectors have shown significant change over the year.
Here are some notable year-to-date reports for sales tax collections provided by the Colorado Department of Revenue (CDR). The monthly CDR report of sales tax collections in Archuleta County is the area’s key economic indicator, as it represents a percentage of total sales and business in the county.
Construction captured 1.6 percent of the economy last year (down from over 5 percent in 2006), but has shown significant growth this year, up 40.28 percent year-to-date in May.
Retail is the largest sector of the local economy (accounting for 45.4 percent of all sales tax collections in 2011) and has shown a 3.52 percent year-to-date increase over the same time period last year.
Manufacturing has been the fastest growing sector of the Pagosa Country economy since 2004 and continues to show growth, with year-to-date numbers up 10.65 percent from last year, and this year reporting the strongest May for collections on record.
Accommodation and Food Services, the second largest sector of the local economy (accounting for 16.5 percent of collections last year) has shown a 16.68 percent year-to-date increase in collections in 2012 and also reported the strongest May on record (for sales tax receipts) this year.
Wholesale Trade has shown a 37 percent increase over the same time period last year.
Mining has shown an astounding 78.65 percent increase in sales tax revenues over the same time period last year — this year’s collections appearing to turn around a trend that has shown a decrease in collections over the past three years.
With few exceptions, industry sectors in Pagosa Country have shown either some growth or have remained flat compared to collections recorded through the same time period in 2011.