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The City of Steamboat has published the preliminary October 2014 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary October 2014 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ October sales taxes are 10.85% more than the October 2013 collections, a difference of $121,270.
Notable categorical increases were 39.85% in lodging and amenities, 18.98% in sporting goods and 14.53% in restaurants. Collections by area showed increases of 40.78% for the Mountain area, 15.19% for the Regional area, and 13.33% for the West Steamboat area over October 2013.
Year to date sales tax collection is showing a positive trend at 8.60% more than year to date through October 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. October collections saw an increase of 37.83%, or $4,924, more than October 2013. Year to date accommodation tax is 14.87% more than year to date last year.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, saw an increase of 10.88% over October 2013. This tax began January 1, 2012 and is held separately from the City of Steamboat Springs sales tax. Year to date, the Air Service Sales Tax is 8.70% more than year to date through 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. October 2014 showed an increase of $266,507 from October 2013. Year to date collections are 86% over the same period last year.
For more information please contact Sue Davies, Budget and Tax Supervisor 970-871-8251.