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The City of Steamboat has published the preliminary October 2012 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary October 2012 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ October sales taxes are 2.08% greater than the October 2011 collections. Year-to-date through October the City sales tax is up by 2.10%. The City of Steamboat Springs budgeted for a 7.2% decrease for 2012. The categories of Lodging, Sporting Goods, Liquor Stores, and Miscellaneous Retail all saw an increase over October 2011. Compared to last year, there was a decrease in sales tax from Utilities and Restaurants. All but the Regional area saw increases in tax revenue with notable changes occurring in both the Mountain and West Steamboat areas.
Accommodation Tax, which is currently used to fund Haymaker debt payments, saw an increase of 1.87% for October over 2011. Year-to-date accommodation tax collections are up .63% compared to the same time period in 2011.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, collected $64,091 in October of 2012. This brings the total amount collected at the end of October to $839,548. 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. Year-to-date the City has collected $493,871 which is 36.51% less than the same time frame in 2011. The City is currently on track to meet or exceed the 2012 budged revenue for building use tax.
For more information please contact Kim Weber, Finance Director 970-871-8250.