Steamboat’s final April sales tax report shows 3.4 percent dip
June 16, 2011
Steamboat Springs — The final April 2011 sales tax report issued by the city of Steamboat Springs shows a 3.4 percent decrease in revenues compared with April 2010. That's a slight improvement over the preliminary report issued earlier this month, which showed a 4 percent drop. That 0.6 percent difference equates to a little more than $5,000.
Total April sales tax revenues were $899,839, bringing year-to-date revenues to $6,509,943. Although April dipped compared with the previous year, total revenues this year are up 2.1 percent.
The city budgeted for a sales tax revenue decrease of 10 percent in 2011. Because year-to-date revenues are up 2.1 percent, the city essentially has a 12 percent cushion from what was budgeted.
Some of the highlights from April's sales tax report:
- April's total collections of $899,839 represent the least April income since 2005, when the city collected $803,359.
- Miscellaneous retail revenues were $464,140, a 1.3 percent increase over April 2010.
- Lodging and amenities experienced the biggest year-over-year drop, from $85,123 in April 2010 to $65,006 in April 2011.
- Revenue from the sales of sporting goods dropped nearly 13 percent in April, from $54,433 last year to $47,470 this year.
- Restaurant sales tax receipts dipped 4.5 percent, from $136,924 to $130,832.
- Liquor store receipts were essentially flat, dropping from $37,669 in April 2010 to $37,456 this year.
- Mountain-area businesses experienced the largest year-over-year decrease in sales tax collections, dropping 19.4 percent from April 2010 to this year.
- West Steamboat businesses experienced the largest growth — 13.8 percent from April 2010 to this year.
- Building use tax collections decreased 55.3 percent, from $116,708 last year to $52,166 this year.
- Year-to-date building use tax receipts are down 52.7 percent, from $238,175 to $112,662.
- Accommodations tax revenues decreased 24.8 percent in April, from $20,509 to $15,430.
- Year-to-date accommodations tax revenues are up 8.5 percent.