Fort Collins’ February taxable retail sales strong

FORT COLLINS – The city of Fort Collins’ net taxable retail sales in February were $149.2 million, 9.8 percent higher than February 2003, according to the city’s March collections report. Retail sales in February determine the amount of March sales tax collections.

The figure is also the strongest showing for the retail segment since April 2001 and the seventh consecutive month in which sales were higher than the corresponding month of the prior year.

“Sales were strong across the board,´ said Alan Krcmarik, city financial officer. “The one sector that has been responsible for the largest share of the growth is the energy sector. The ‘Leap Year’ strengthened the collections. The extra day could be the cause for 3 to 5 percent of the growth. The good start to 2004 means that the city should reach the budget projections.”

Actual sales tax collections in March – $4.3 million – demonstrated a growth rate nearly as strong as the net taxable sales, up 8.9 percent over March 2003. The March collections are also $200,000 higher than the amount expected, according to sales tax seasonal patterns. For the year-to-date, sales tax collections exceed projections by $390,000. If the trend continues throughout the year, the excess could amount to $1.5 million, Krcmarik said.

on Facebook on LinkedIn