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The City of Steamboat has published the preliminary May 2015 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary May 2015 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ May sales taxes are 2.3% more than the May 2014 collections, a difference of $24,849.
When comparing this May to the prior May, the greatest categorical increases are in miscellaneous retail at 4.05% and restaurants at 2.62%. Notable increases in collections by area were 7.43% for West Steamboat and 6.69% for the Mountain area.
Year to date sales tax collection is showing a positive trend at 6.14% more than year to date through May 2014.
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 1.55% compared to May 2014. Year to date accommodation tax is 7.69% more than year to date last year.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, saw an increase of 2.43% over May 2014. 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 2015 use tax collections reflected a decrease of $15,577 compared to May 2014. Year to date collections are 10% greater through the same period last year.
For more information please contact Sue Davies, Budget and Tax Supervisor 970-871-8251.