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The City of Steamboat has published the preliminary October 2016 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ October sales taxes were 3.90% higher compared to October 2015 collections.
When comparing this October to the prior October, the greatest categorical increases were in Lodging and Amenities at 15.84% and Marijuana at 12.81%. Notable increases in collections by area were an increase of 11.35% for West Steamboat and 8.89% for the Mountain.
Year to date sales tax collection is showing a positive trend at 7.18% 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. October collections saw an increase of 18.16% compared to October 2015.
The Local Marketing District Air Service Sales Tax collections, with a rate of .25%, were 3.90% higher compared to October 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. October use tax collections reflected a decrease of $27,328 compared to the same period last year. Year to date building use tax collection is 33% more compared to year to date last year.
For more information please contact Sue Davies, Budget and Tax Manager 970-871-8251.