STEAMBOAT SPRINGS, COLORADO-July 6, 2020-Based on additional information and filings, the City of Steamboat has issued an updated preliminary report for May 2020 Sales, Use, and Accommodation Tax as of Monday, July 6, 2020.
Based on the updated numbers, City of Steamboat Springs’ May 2020 sales taxes are 3.81% less compared to the May 2019 collections or a difference of $55,024. For the past 5 years, May collections represent about 5% of annual collections. Year to date sales tax collection is 6.54% less than year to date through May 2019.
When comparing this May to the same month last year, there were notable increases in many categories. Sporting goods are up 66.65%, liquor stores are up 31.77%, and grocery stores & other food sellers up 13.80% over the same period last year. It is evident that people are shifting their spending and activities to mirror the current Colorado Level 2: Safer at Home and in the Vast, Great Outdoors. Notable increases in collections by area is 8.47% in the West Steamboat area.
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. May collections were down 86.18% compared to the same period last year. Year to date accommodations tax is down 13.97% 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. May net use tax collections total $67,382. Year to date net use tax collections are down 48% 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