Basalt got a financial windfall during the pandemic year because of an unexpected consumer spending frenzy.
A preliminary year-end sales tax report shows sales tax revenue increased 14.3% over 2019, according to town of Basalt finance director Christy Chicoine. The December sales tax report, which reflects actual sales in November, was up 8%, she told Basalt Town Council at its meeting Tuesday night.
Exact year-end figures weren’t available yet because Chicoine is awaiting more information before finalizing the report. Basalt will reap more than $7 million in sales tax revenue for 2020.
The town ended up collecting about $200,000 more than anticipated for its general fund, Chicoine said. A separate sales tax dedicated for use for parks, open space and trails reaped about $90,000 more than forecast.