STEAMBOAT SPRINGS, COLORADO-May 18, 2020-The City of Steamboat has published the final March 2020 Sales, Use, and Accommodation Tax Report. March 2020 sales taxes are 29.03% less compared to the March 2019 collections or a decrease of $956,884. For the past 5 years, March collections represent about 11% of annual collections.
Year to date sales tax collection is 4.43% less than year to date through March 2019. Council supported a deferment of tax payments for March returns to May 20, 2020. Due to this deferment, staff anticipates revenue collections will improve slightly once the city reports collections for April.
When comparing this March to the same month last year, all retail categories were down except for grocery stores & other food sellers reflecting an increase of 4.10%, and utilities increased a modest 2.51%. Lodging, restaurants, and sporting goods saw major decreases.
Accommodation Tax is primarily dedicated to local trail projects since the Yampa Street improvements portion of referendum 2A was completed last year. A small amount each year is dedicated towards the marketing of these projects and capital improvements at Haymaker. March collections were down 47.08% compared to the same period last year. Year to date accommodations tax is down 8.34% compared to the same period last year
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. March net use tax collections total $95,208, an increase of 21% over March of last year. Year to date net use tax collections are down 14% through the same period last year.
The city’s Tax Division strives to provide superior services. General tax information and staff contacts can be found on the Municipal Tax page. The webpage provides an efficient way for customers to access information on sales tax rates, online sales tax filing, construction use tax, excise tax on construction, vehicle use tax, and links to documents, reports and the sales tax code.
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Contact
Sue Davies, Budget and Tax Manager, 970.871.8251 or email