The City of Steamboat has published the preliminary August 2012 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary August 2012 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ August sales taxes are 2.07% higher than August 2011 collections. Year-to-date through August, the City sales tax is up by 2.14%. The City of Steamboat Springs budgeted for a 7.2% decrease for 2012. The largest percent increase was seen in the Lodging category which was up by 4.73%. Restaurants and Sporting Goods showed the only decreases which were both down from August 2011 by less than 1%. All other categories showed an increase from the same timeframe last year. Looking at the areas within the City, the Mountain area showed the largest increase with an 8.15% increase over August of 2011. West Steamboat saw a decrease for the third consecutive month amounting to 2.63% decrease in August. The Downtown area also showed a decrease for August of 3.09% compared to August 2011.
Accommodation Tax, which is currently used to fund Haymaker debt payments, saw an increase of 4.82% for August over 2011. Year-to-date accommodation tax collections are flat compared to the same time frame in 2011.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, collected $89,613 in August of 2012. This brings the total amount collected at the end of August to $691,357. 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. There was about $23,500 more in building use tax collected in August 2012 than there was in August of 2011. Year-to-date it is down by 36.61% or about $217,000. The City is currently on track to meet or exceed the 2012 budged revenue for building use tax.
For more information please contact Kim Weber, Finance Director 970-871-8250.