(Jackson, Wyo.) - A report was recently released that reveals where a significant amount of county taxes originate. The study, completed by BBC Research & Consulting, analyzes the contribution of Teton Village as an unincorporated community of Teton County. The consulting firm completed the report in 2014, because it was the most recent complete data available. According to the report, the total taxes collected in Teton County in Fiscal Year (FY) 2014 amounts to $24,398,598. Teton Village generates annual tax revenues of more than $4.6 million to the Teton County and Town of Jackson general funds. Teton Village also contributes nearly $1.3 million per year in designated SPET funds for capital projects. This is nearly $6 million or 24.6 percent of the taxes for Teton County. This is significant considering that Teton Village only 5.9 percent of the total housing units (or 770) in the county. In 2014, the two percent lodging tax collected $4.6 million in revenue, which broke down to the following: - 42%: Non-Teton Village, unincorporated County (mostly national park lodging) - 34%: Town of Jackson - 24%: Teton Village More key findings include: - Teton Village accounts for about 13% of the county’s taxable sales and property tax, directly generating $1.76 million in sales tax receipts and $780,000 in property tax to Teton County in 2014. - Teton Village is the source of about 9.5% of county general fund revenue, while requiring less than 6% of county service expenditure. - Teton Village directly generates $1.4 million in annual sales tax receipts for the Town of Jackson general fund. - Teton Village generates $1.3 million per year – 13% of all funds collected - for SPET projects. - The Shooting Star development at Teton Village imposes a supplemental one percent real estate transfer fee that must specifically fund START transit and pathways between Town and the Village. Revenue from this transfer fee totals more than $1.7 million since 2007. It is now generating more than $500,000 annually. See the full study here.
*Feature Photo: Teton Village. h/t Teton Village Association / Pitchengine