September 2011 Sales Taxes Collected in October

The Finance Department has prepared and analyzed the sales and use tax receipts for October 2011.  Overall, October sales tax receipts grew by an incredible 6.35 percent over October 2010.  This means that overall sales tax growth is now 2.83 percent higher in 2011 over 2010 for the year.  As nationally, "fast casual" eating establishments are growing by double digits for the year.   The City of Arvada has seen a 14.88 percent growth in this area.  This includes new restaurants as well as established businesses in this category.  The Finance Department believes the City will now meet or exceed all original revenue assumptions in these areas for 2011.  Please see the report for more detail.