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The City of Steamboat has published the preliminary February 2016 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary February 2016 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ February sales taxes are 8.33% more than the February 2015 collections, a difference of $182,176.
When comparing this February to the prior February, the greatest categorical increases are in Marijuana at 23.30% and Liquor stores at 11.20%. Notable increases in collections by area were 19.26% for the West Steamboat area and 8.78% for the Highway 40 Corridor.
Year to date sales tax collection is showing a positive trend at 6.39% more than year to date through February 2015.
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. February collections saw an increase of 7.93% compared to February 2015.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, saw an increase of 8.33% compared to February 2015. This tax began February 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. February 2015 use tax collections reflected a slight increase of $1,559.
For more information please contact Sue Davies, Budget and Tax Supervisor 970-871-8251.