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The City of Steamboat has published the preliminary December 2012 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary December 2012 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ December sales taxes are 6.24% less than the December 2011 collections, a difference of $145,964. Year-to-date through December the City sales tax is up by .98%. The City of Steamboat Springs budgeted for a 7.2% decrease for 2012. This means the City will end 2012 approximately 8% above budgeted sales tax revenue. Due to the large quantity of monthly, quarterly, and annual returns that come due in January, there are currently a large number of unfiled returns, which could possibly improve our final collections.
Accommodation Tax, which is currently used to fund Haymaker debt payments, saw a decrease of 11.24% compared to the same time period in 2011. Year-to-date accommodation tax collections are down 1.59% through December over 2011.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, collected $137,042 during December of 2012, bringing the total amount collected at the end of December to $1,045,283. This tax began January 1, 2012 and is held separately from the City of Steamboat Springs sales tax.
Building Use Tax is used to fund capital projects for the City of Steamboat Springs. This tax fluctuates depending on building permits issued, use tax audits completed, and the size and number of developments in the City. Year-to-date the City has collected $556,177 which is 7.58% more than the same time frame in 2011. In December 2011, a single large refund was issued on a Use Tax Reconciliation, causing the large decrease in funds during that month.
For more information please contact Kim Weber, Finance Director 970-871-8250.