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The City of Steamboat has published the preliminary September 2013 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat Springs has published the preliminary September 2013 Sales, Use, and Accommodation Tax Report. The City’s sales tax collections this year through September are up more that 6% as compared to the same period in 2012. This follows with the current economic trend of moderate steady growth. When comparing quarterly tax revenue to the same quarter in the prior year, with the exception of one quarter in 2012, the City has consistently seen increases for the last three years.
During September the category of lodging and amenities saw an increase of almost 11%, although restaurants and liquor stores experienced a drop when compared to September 2012. The Mountain area and West Steamboat saw the greatest increases over last September’s collections, up 12.5% and 9.6%, respectively.
Accommodation Tax, which is currently used to fund Haymaker debt payments, saw an increase of 13% compared to the same time period in 2012, and is up more than 9% year to date.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, began January 1, 2012 and is held separately from the City of Steamboat Springs sales tax. As compared to last year, collections year to date are up more that 13%.
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. Building use tax year to date is $225,697 greater when compared to the same period last year and the City has already exceeded the 2013 budgeted revenue for building use tax.
For more information please contact Kim Weber, Finance Director 970-871-8250.