Town of Vail Council Debates Construction Tax Use

The Vail residents approved a construction use tax and now discussions will be considered by the Vail Town Council during its two regularly scheduled evening meetings in December. The meetings begin at 6 p.m. in the Vail Town Council Chambers, 75 S. Frontage Rd. Vail residentds will have the opportunity to give input on Dec. 4 during first reading of the use tax ordinance as well as Dec. 18 when the ordinance is adopted upon second reading. 

Developers, contractors, residents and others impacted by the use tax are encouraged to participate.

The four percent use tax was approved by voters during Vail’s Nov. 6 election with collections to begin Jan. 1, 2008. The tax on construction and building materials is to be used exclusively for capital acquisitions  capital projects within the town, and home improvements.

Following a discussion on Nov. 20, the Town Council has directed staff to present an ordinance with the following provisions:

• The tax will be collected by the town prior to issuance of a building permit.
• The tax will be applied to 50 percent of the project valuation. The first $10,000 of the project valuation is exempt.
• Projects that receive final development review approval by the town prior to Jan. 1, 2008 are exempt.
• Certain permanently deed restricted employee housing units are exempt.   

Public comments may be forwarded to the Town Council in advance of the meetings by calling 479-1860, ext. 8, or by email to towncouncil@vailgov.com. If you can’t attend the meetings, I urge you to send in your comments to the Town Council. 

Any remodels or new additons to local homes will be impacted by this tax.  Is the first $10,000 exemption enough when there are homes dating back to 1974 in Vail that need updating?  You can probably get a half a roof for $10,000 in Vail.  Perhaps there should be another zero added to exemption for local homeowners, and leave the $10,000 exemption for the boys doing the big development.  Speak up folks, now is your chance.

For information on property in Vail and how this might impact your property, contact Teri Lester, Eco-Broker 970-376-0779 or tlester@gatewayland.com

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