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II: City,/ <br />INN Louisville <br />COLORADO • SINCE 1878 <br />FINANCE COMMITTEE <br />COMMUNICATION <br />SUBJECT: <br />SALES TAX REPORTS FOR THE MONTH AND QUARTER ENDED <br />MARCH 31, 2021 <br />DATE: MAY 17, 2021 <br />PRESENTED BY: KEVIN WATSON, FINANCE DIRECTOR <br />JEANETTE LONGORIA, TAX MANAGER <br />BETH RIED, TAX AUDITOR <br />SUMMARY: <br />Attached are the monthly and quarterly revenue reports for sales tax, lodging tax, auto use <br />tax, consumer use tax, and building use tax for the periods ending March 31, 2021. <br />Included are the monthly and year-to-date sales tax revenue reports by area, by industry (in <br />total, and for inside and outside City), and the revenue by area graphs for restaurants. <br />Total revenue through March 2021 for the specific taxes contained on the Revenue History <br />report has increased 5.0% YTD as compared to the same period in 2020. <br />Excluding audit revenue, sales tax is trending 0.1% above YTD 2020, and consumer use <br />tax is trending 3.0% above YTD 2020. <br />Please note, the budget comparisons provided are to the 2021 budget. <br />Sales tax revenue for the month of March 2021 increased 1.3% from March 2020, but YTD <br />sales tax revenue is 0.8% below YTD 2020. Sales tax revenue is currently 1.7% above <br />budget. <br />Lodging tax revenue for March 2021 decreased 28.1 % from March 2021, and YTD revenue <br />is down 45.7% as compared to YTD 2020. Lodging tax revenue is currently 25.2% below <br />budget. <br />Auto use tax revenue for March 2021 increased 73.8% from March 2020, and YTD revenue <br />increased 21.5% as compared to YTD 2020. Auto use tax revenue is currently 17.7% above <br />budget. <br />Building use tax revenue for March 2021 increased 392.1 % from March 2020, and YTD <br />revenue increased 55.6% as compared to YTD 2020. Building use tax revenue is 58.1 <br />above budget. <br />FINANCE COMMITTEE COMMUNICATION <br />10 <br />