Steamboat’s May sales tax collections up nearly 2 percent
July 1, 2011
Steamboat Springs — Sales tax collections for the city of Steamboat Springs were up 1.95 percent in May compared with the same month the previous year, according to preliminary figures from the city.
The figures represent an increase in collections from $851,388 in May 2010 to $868,003 in May 2011. The numbers could be adjusted when final collections are in.
The increase in collections put the city up 2.23 percent year-to-date over 2011, from about $7.2 million in 2010 to about $7.4 million so far in 2011.
The city budgeted for a sales tax revenue decrease of 10 percent in 2011, so May's small bounce is a boon to its cushion going forward. Sales tax is the primary source of revenue for Steamboat.
The city divides its sales tax collections into categories. In May, the largest year-over-year increase came in lodging and amenities, at 30.2 percent. That increase amounts to a relatively small dollar amount, however, from $33,076 in May 2010 to $43,055 in May 2011. Lodging in May is a small category relative to others. By comparison, miscellaneous retail brought in more than $500,000 in May of both years.
Miscellaneous retail's sales tax collections decreased 0.03 percent in May. Sporting goods decreased 2.7 percent, utilities increased 3.5 percent, restaurants increased nearly 3 percent and liquor stores' collections decreased nearly 1 percent.
The city's sales tax figures also are divided by regions. Downtown saw a year-over-year increase in May of 14.7 percent. The mountain area saw an increase of 16.6 percent. The U.S. Highway 40 corridor also increased, 0.7 percent. The corridor represents the largest region in terms of sales tax collections. Its numbers went from $358,314 in May 2010 to $360,807. Downtown collected $150,971 in sales taxes in May 2011, and the mountain area collected $51,602.
Steamboat's sales tax collections decreased about 0.6 percent for the region outside those specific categories, and collections decreased about 7.7 percent for West Steamboat.
The city also includes building use tax and accommodations tax in its monthly figures. Building use tax was up nearly 172 percent, from $51,120 in May 2010 to $139,032 in May 2011. That figure is still down 13 percent year-to-date.
Accommodations tax collections were up nearly 24 percent, from $8,278 in May 2010 to $10,257 in May 2011. The collections are up nearly 9 percent year-to-date.
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