Published Oct 16, 2008
With higher gas prices and the nation’s economic problems this year, the Village of Chama has suffered a moderate drop (about 7 percent, or $14,000) in the amount of gross receipts taxes it has received over the spring and summer months when compared to last year. The village depends on warm-month tourists drawn in by the Cumbres and Toltec Railroad and the outdoors to help generate much of its tax revenue.
The gross receipts tax is levied on companies within the municipality based on their revenues. Chama taxes at a rate of 7.25 percent, according to information from the state Bureau of Taxation and Revenue.
2007 2008
April: $32,212 $26,120
May: $34,469 $38,728
June: $36,814 $29,311
July: $53,393 $37,564
August: $48,139 $59,260
Total: $205,027 $190,983