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The City of Steamboat has published the preliminary March 2016 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary March 2016 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ March sales taxes are 4.40% more than the March 2015 collections, a difference of $109,870.
When comparing this March to the prior March, the greatest categorical increases are in Marijuana at 15.59% and Lodging and Amenities at 8.26%. Notable increases in collections by area were 6.42% for the Mountain and 6.15% for the Highway 40 Corridor.
Year to date sales tax collection is showing a positive trend at 5.78% more than year to date through March 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. March collections saw an increase of 8.25% compared to March 2015.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, saw an increase of 4.40% compared to March 2015. This tax began March 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. March 2015 use tax collections reflected an increase of $38,575 compared to March 2015.
For more information please contact Sue Davies, Budget and Tax Supervisor 970-871-8251.