FASTER REVENUE

Distribution: Public Improvements Fund 100%

Source: State of Colorado

Collection: Funding Advancements for Surface Transportation and Economic Recovery (FASTER), was signed into law on March 2, 2009. It raises additional revenues for statewide transportation improvements from the road safety surcharge, oversize/ overweight surcharge, rental car surcharges and late vehicle registration fees.

Revenues are credited to the Highway Users Tax Fund (HUTF) and distributed per statute to the Colorado Department of Transportation, counties and municipalities.

% Change

Year Revenue (YoY)

2018286,423

2019365,90527.8%

2020307,400-16.0%

2021348,18113.3%

2022 Projected 300,000-13.8%

2023 Adopted 300,0000.0%

• Revenues fluctuate based on the amount of vehicle surcharges collected by the state.

Distribution: Excise Tax Fund 100%

Source: Contractors and developers

Collection: Excise tax is paid by the builder at the time a building permit is issued for a new residence or commercial structure. The fees are used to pay for capital projects, such as street improvements or parks that are needed for the new residents moving into the Town. The fees are only used for capital items and not to fund regular operations.

Trend:

20183,735,299

20204,922,145 94.4%

20218,440,40571.5%

2022 Projected 9,800,00016.1%

2023 Adopted 9,500,000-3.1%

• The excise tax rate fluctuates based on the Colorado Construction Cost Index set by the Colorado Department of Transportation.

• Revenues fluctuate based on the amount of annual development. The number of permits and average value of those permits for the current and prior year is as follows:

• The amount of tax collected per unit is as follows for 2022:

• The commercial rate is $0.39 per square foot in 2022. It is increasing to $0.51 in 2023.