Excerpt from: SnowHome Properties
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| September 16, 2006 | | Reports 2nd Quarter Survey Results | The Summit Chamber of Commerce presents the following highlights of the second quarter survey of our membership which provides a snapshot of the economic activity for mountain community.
ECONOMIC CONDITIONS UPBEAT
Results from the second quarter survey revealed upbeat economic conditions and local inflation trends holding fairly steady. The quarterly survey is distributed to Summit County business owners and professionals in an effort to gather data on local business conditions and trends.
The current activity index rose to 3.58 in the second quarter compared to the first quarter reading of 3.31. The comparison of current conditions versus one year ago registered a reading of 3.70, also an increase from the 3.47 initial reading.
CONFIDENCE INDEX
The confidence index for the upcoming twelve months remained very strong with a mark of 4.53. The first quarter reading had been 4.21.
LOCAL PRICE TRENDS
The majority of respondents, 72%, indicated prices paid for goods and services rose, with the average increase around 5.9%. When asked about prices received from their customers, respondents were evenly split with one-half reporting prices received were about the same and one-half indicating prices went up.
TAX REVENUE ISSUES QUESTION
A question was also included in this quarter's survey asking business owners and professionals how they would prefer to see the county raise additional revenue. 32.5% of the respondents favored a local sales tax increase, 25% voted for a reduction in existing services, 15% wanted a value added or consumption tax, and 12.5% favored an increase in local property taxes. The remaining 15% submitted their own ideas. One novel idea was to add a special use tax on second homeowners which would be inversely proportionate to the amount of time they occupy their real estate (the less time they're here, the more they pay).
The Summit Chamber Of Commerce, Edward Jones Investments, and J.Boozer and Associates sponsor the Summit County Business Barometer. Watch for the next quarterly survey! Thank you for your participation.
__________________________________________ Want to buy or sell a SnowHome in Summit County? Please visit our website. All the property listings are there. When you live or visit here, you will know "Snow Place Like Home". | |
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