Final report shows 2.4 percent increase in October sales tax revenue

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— Steamboat Springs sales tax collections in October increased 2.4 percent compared with the same month last year, according to the final sales tax report released Thursday by the city.

October collections were $991,021, up from $967,676 in October 2010, according to the report. The final figure increased less than $5,000, or 0.4 percent, from the preliminary report released Dec. 1.

October’s totals brought year-to-date collections to $13,934,052, compared with $13,395,395 through the same month in 2010. That’s a more than 4 percent increase.

Kim Weber, the city’s budget and tax manager, said October sales tax collections are between 2005 and 2006 levels before the local real estate boom, but not where the city was at its peak in 2008.

“We’re seeing increases in sales taxes every month, which is great, but we’re still not where we were a couple of years ago,” she said. “I think we’re living in a new norm. I don’t expect that we’ll return to our previous rates anytime soon.”

The city budgeted a 10 percent decline in sales tax revenues this year from 2010 but has projected that collections will remain flat for the rest of the year. The city has budgeted sales tax revenues to decline 5 percent in 2012 from this year.

Steamboat separates sales tax collections by category (miscellaneous retail, lodging and amenities, sporting goods, utilities, restaurants and liquor stores) and location (downtown, base area, U.S. Highway 40 corridor, regional and west Steamboat).

Only the restaurant category and downtown and base area locations saw sales tax collection decreases in October compared with October 2010.

The report also includes building-use and accommodations taxes, both of which continued year-over-year increases in October.

The increase in sales tax collections in October was the sixth consecutive month and the seventh time this year that collections exceeded those from the same month in 2010.

— To reach Jack Weinstein, call 970-871-4203 or email jweinstein@SteamboatToday.com

October 2011 sales tax revenue

Comments

cityworker 2 years, 9 months ago

Collections up by 4% year to date...and the only thing city employee's get for their hard work and being on furlough, is a Christmas Ham!

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addlip2U 2 years, 9 months ago

While the resort industry brings in "foreigners" and "Visa people", many American citizens remain unemployed and would welcome the Christmas ham.

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kathy foos 2 years, 9 months ago

addlip2U,I totally agree.I hope that washington will stop or properly regulate,the Visa guest worker program,as it was ment for extra workers needed.Unemployment ,home forclosures,and penniless Americans are the result of bringing in too many workers.Many Americans cannot afford any kind of health services,yet we see extra help offered for the Visa workers in an integrated service.No help is offered for the Americans,they don't want help,just a job and reasonable rent,a chance for a piece of the American dream.Please help fellow Americans get back to work and stop the foreclosures and suffering.People need to have a chance to make it.Nothing personal against the workers,but Pres. Obama needs to control the Visa Guest Worker Program to operate in the way it was intended to work. As for everyone financially hurting again this Christmas Season in Routt County,I wish you a Merry Cristmas anyway,Thank Goodness that honoring Chists birth is something that costs nothing and everyone can do anywhere they are and with whatever they can .Just know that you are loved by others,people do care.

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greenwash 2 years, 9 months ago

Hey city worker mabye someone should check up on city water department employees since ive seen one employee who i shall not name but has been with city for 20 + years sound asleep in city owned truck at 10am a few days ago .4 days of work is plenty for lazy government workers.

Could the 2% increase be directly related to MMJ sales?

Id hire a illegal hard working mexican over a legal lazy white american any day .

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