Basalt’s sales tax revenues fell nearly 5.5 percent in May from the same month the prior year. Town officials figure that the weather was more of a culprit than the economy.
May is never a booming month for Basalt business, Town Manager Bill Kane noted, but it was particularly lousy this year because of the cold, rainy weather. “It had a chilling effect on the economy,” he said.
Basalt collected $215,661 in sales tax revenues for the month compared to $228,119 in May 2010. Before the recession struck, Basalt collected $273,022 in sales tax revenues for May 2008.
Kane said at a Town Council meeting Tuesday that informal chats with business owners indicate that June and July were better than May. He is hopeful that the midvalley economy won’t sink further.
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