The city’s sales taxes, excluding transient room taxes, rose by more than $650,000 in October 2024 when compared to 2023.
This raised overall citywide sales tax revenue by nearly 7.5% or almost $740,000 from 2023.
Transient room tax revenue was also up in October thanks to increased occupancy rates. It rose by almost 50% or nearly $105,000.
Park City staff say they expected October to perform well but didn’t anticipate this much of an increase over 2023. They say several factors contributed to the bump: consumer confidence was up almost 10%, lodging occupancy was up nearly 8% and visitation was up overall.
Early tax filers also accounted for about 23% of the sales tax revenue boost. Early filing, however, will impact November 2024’s sales tax revenue.
Historically, October is not a significant month, only accounting for about 5% of Park City’s annual sales tax revenue.
