The City of Steamboat has published the preliminary December 2015 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary December 2015 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ December sales taxes are 6.20% more than the December 2014 collections, a difference of $171,223.
When comparing this December to the prior December, the greatest categorical increases are in lodging and amenities at 8.70% and miscellaneous retail at 6.92%. Notable increases in collections by area were 14.06% for the West Steamboat area and 12.04% for the Regional area.
Year to date sales tax collection is showing a positive trend at 5.64% more than year to date through December 2014. Total preliminary collections for the year are $21,800,772 compared to an original budget of $20,636,467. Collections also exceeded the projection of $21,637,460 which was estimated in the fall of 2015 during the annual budgeting process for the following year.
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. December collections saw an increase of 9.15% compared to December 2014. Year to date accommodation tax is 8.63% more than year to date last year.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, saw an increase of 6.21% compared to December 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. December 2015 use tax collections reflected an increase of $58,894 compared to December 2014. Year to date collections are 26% lower through the same period last year.
For more information please contact Sue Davies, Budget and Tax Supervisor 970-871-8251.