Sales tax collection from the Havana BID in 2022 Q1 were up a very impressive 17.9% compared to the same time period in 2021

September 17th, 2022

City of Aurora Sales Tax Revenue History: We have seen percentage increases in all three city sales tax categories since we started tracking the sales tax in 2010, except for the 2020 year due to the Covid-19 pandemic’s challenges. Since 2015, the District continued to contribute over $20 Million in Sales Tax for the City of Aurora. The District continued to be one of the major sales tax drivers for the City’s revenue and historically contributes about 9-10% to the City of Aurora’s budget in Sales Tax revenue. Overall, the District is doing better than most shopping districts and special districts, despite the pandemic recovery challenges.

2021 Highlights from Bill Levine at the City of Aurora:

Havana is a very desirable area and in the top 5 producing areas for the City of Aurora sales tax generation and revenue.
Our global businesses District generated $23.8 MILLION in sales taxes for the City of Aurora in 2021.
The 2021 sales tax collection represented 9.64% of the total sales taxes collected within the City.
In terms of growth, the $23.8 million in sales tax collections was $3.0 million (14.4%) more than was collected in 2020.
However due to COVID-19, the City likes to compare numbers prior to 2020, so in that regard, the $23.8 million collected in 2021 was $2.6 million (12.4%) more than what was collected from the Havana BID in 2019.
Some of the reasons for the increase was due to a large volume of businesses that opened in the District, completion of major redevelopments in 2021, and that the inflation estimate of about 7%, noted by the federal government may have also been a factor in the increased collection.
2021 Year End Sales Tax Reports from the City of Aurora Review report Here.

2022 Highlights from Bill Levine at the City of Aurora:

Sales tax collection from the Havana BID in 2022 Q1 were up a very impressive 17.9% compared to the same time period in 2021.
Sales tax collections across the entire City of Aurora grew by 11.7% in the first quarter of 2021. The Havana BID grew by significantly more than the City’s average.
When discussing sales tax collections, the City does not that inflation has been the most important driver of recent results. For example, in March inflation was 8.5% in the United States (per the federal government’s CPI-U index) and inflation in the Denver-Aurora-Lakewood area was slightly higher, at 9.1% (also per the federal government). Since sales tax is taken as a percentage of sales price, higher prices driven higher collections. The significant increase is most likely due to the significant inflation. The inflation is driving about half of the growth in sales tax collections from the Havana BID.
2022 Review the 3^rd Quarter Sales Tax Report from the City of Aurora Here. Similar to other shopping districts in the City of Aurora with sales tax collections, things are looking good in the District. Contact with City of Aurora: Bill Levine, Revenue Analyst, Finance Department | City of Aurora, office739.7590, [email protected] for any additional questions.

City of Aurora Sales Tax Collection from the Havana BID – On Havana Street
YEAR	AUTO DEALERS & PARTS	FOOD & DINING	TOTAL SALES TAX
2008-2009	2008 was the 1^st Year of the BID 4.5 mill levy collection & The District and City did not begin reporting on total Sales Tax Collection until 2010.
2010	$3,435,800	$1,788,855	$13,097,290
2011	$3,769,713	$2,019,244	$13,680,196
2012	$4,934,651	$2,374,026	$15,636,441
2013	$5,295,256	$2,424,008	$16,339,128
2014	$5,897,049	$2,810,906	$18,599,766
2015	$6,546,804	$3,081,998	$20,193,012
2016	$6,292,571	$3,058,532	$20,358,224
2017	$6,628,639	$3,072,734	$21,049,286
2018	$6,343,937	$3,557,848	$21,105,961
2019	$5,923,499	$3,760,494	$21,150,961
As of 9.2020	$3,830,556	$2,398,277	$15,528,761
2020	$5,233,973	$3,209,112	$20,772,883
As of 8.2021	$4,353,897	$2,735,126	$17,636,149
2021	$5,710,989	$3,799,275	$23,767,039
As of 7.2022	$4,254,046	$2,955,026	$17,425,456

Year-to-date total sales tax collections from businesses in the corridor through the end of August were $17.42M. This amount is 13.9% more than what was collected in 2021. Year-to-date food & dining sales tax collections from businesses in the corridor through the end of August were $2.95M. This amount is 23.8% more than what was collected in 2021. Year-to-date auto dealers & parts sales tax collections from businesses in the corridor through the end of August were $4.25M. This amount is 11.7% more than what was collected in 2021. Based on this last comparison, it appears that business in the District is now exceeding pre-pandemic levels of sales.

Bill Levine with the City calculated sales tax from the District through August 2022 ($17.42M) and divided those by all sales tax collections in the entire City of Aurora through August (about $178.35M) and calculated that the District is responsible for generating 9.77% of the City of Aurora’s total sales tax collections so far in 2022.