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The City of Steamboat has published the preliminary May 2014 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary May 2014 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ May sales taxes are 5.61% more than the May 2013 collections, a difference of $56,824.
Notable categorical increases were 18.72% in lodging, 17.34% in restaurants and 5.03% in liquor stores. Collections by area showed increases of 11.03% for the Downtown area, 9.41% for Mountain and 9.38% for the West Steamboat area over May 2013.
Year to date sales tax collection is showing a positive trend at 6.53% more than year to date through May 2013.
Accommodation Tax, with the passing of referendum 2A, is now primarily dedicated to local trail projects and Yampa Street improvements. Additionally, a small amount is dedicated towards the marketing of these projects and capital improvements at Haymaker. May collections saw an increase of 13.10%, or $1,587, over May 2013. Year to date accommodation tax is 12.52% more than year to date last year.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, saw an increase of 5.63% over May 2013. 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. May 2014 showed an increase of $66,027 over May 2013.
For more information please contact Sue Davies, Budget and Tax Supervisor 970-871-8251.