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The City of Steamboat has published the preliminary October 2013 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary October 2013 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ October sales taxes are 5.5% greater than the October 2012 collections. Year-to-date through October the City sales tax is up by more than 6%. The City budgeted for a 5.5% decrease for 2013. The categories of Restaurants, Miscellaneous Retail, Liquor Stores and Lodging all saw increases over October 2012 but there were decreases in sales tax from Utilities and Sporting Goods. All areas except the Mountain area saw increases in tax revenue, most notably the West Steamboat area.
Accommodation Tax, which is currently used to fund Haymaker debt payments, had a 4.29% increase in collections when compared to last October. This brings the total amount collected in 2013 through October to $588,179, over 9% greater than year-to-date 2012.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, saw an increase of 5.87% for October over 2012. Year-to-date collections are up almost 13% compared to the same time period in 2012.
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 $741,566 which is 50% more than the same time frame in 2012. The City has exceeded the 2013 budgeted revenue for building use tax.
For more information please contact Kim Weber, Finance Director 970-871-8250.