The City of Steamboat has published the preliminary November 2012 Sales, Use, and Accommodation Tax Report. (See the Full Report.)
The City of Steamboat has published the preliminary November 2012 Sales, Use, and Accommodation Tax Report. City of Steamboat Springs’ November sales taxes are 1.66% less than the November 2011 collections, a difference of $17,422. Year-to-date through November the City sales tax is up by 1.90%. The City of Steamboat Springs budgeted for a 7.2% decrease for 2012. Compared to November last year there was a 5% increase in sales tax from Liquor Stores but decreases in the categories of Lodging and Sporting Goods. The Mountain area and US 40 corridor saw decreases in tax revenue compared with the same period last year.
Accommodation Tax, which is currently used to fund Haymaker debt payments, saw a decrease of 13.93% compared to the same time period in 2011. Year-to-date accommodation tax collections are up 0.38% through November over 2011.
The Local Marketing District Air Service Sales Tax, with a rate of .25%, collected $66,331 during November of 2012, bringing the total amount collected at the end of November to $906,371. 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 $509,367 which is 37.50% less than the same time frame in 2011. The City is currently on track to meet or exceed the 2012 budgeted revenue for building use tax.
For more information please contact Kim Weber, Finance Director 970-871-8250.