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The City of Steamboat has published the preliminary May 2016 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary May 2016 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ May sales taxes were 8.85% higher compared to May 2015 collections.
When comparing this May to the prior May, the greatest categorical increases were in Sporting Goods at 33.02% and Lodging and Amenities at 18.94%. Notable increases in collections by area were an increase of 43.24% for the Mountain and 10.43% for Downtown.
Year to date sales tax collection is showing a positive trend at 6.12% more than through the same time frame last 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. May collections saw an increase of 14.94% compared to May 2015.
The Local Marketing District Air Service Sales Tax collections, with a rate of .25%, were 8.86% higher compared to May 2015. 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 use tax collections reflected a decrease of $85,758 compared to the same period last year. Year to date building use tax collection is 5% less compared to year to date last year.
For more information please contact Sue Davies, Budget and Tax Supervisor 970-871-8251.