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The City of Steamboat has published the final June 2012 Sales, Use, and Accommodation Tax Report (See the Full Report.) June sales taxes increased by 4.39% over June 2011 collections. Year-to-date through June increased by 1.96%. The City of Steamboat Springs budgeted for a 7.2% decrease for 2012. Sales tax collections for June 2012 exceeded June 2011 in all categories, but the largest percent increases were seen in lodging and liquor stores. All reported areas saw an increase from 2011 with the exception of West Steamboat which was down by about $5,000 in tax collections.
The Accommodation Tax, which is currently used to fund Haymaker debt payments, saw an increase of 10.47% for June over 2011. Year-to-date accommodation tax collections are down by 3.14% from the same time frame in 2011.
The Local Marketing District Air Service Sales Tax with a rate of .25% collected $84,416 in June of 2012. This brings the total amount collected at the end of June to $503,951. 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. Building Use Tax for June of 2012 was down by 68.63% from June 2011. Year-to-date it is down by 52.35%. The City is currently on track to meet or exceed the 2012 budged revenue for Building Use Tax.
When sales tax collections are compared to other mountain communities, the City of Steamboat Springs is at the low end of year over year increases with 1.96% increase year-to-date. Aspen has seen the highest year over year increase year to date through June with 9.44%.
For more information please contact Kim Weber, Finance Director 970-871-8250 or email@example.com.