Tuesday, December 18, 2012
Steamboat Springs City of Steamboat Springs sales tax revenue in October increased 2.36 percent compared to the same month last year, according to a final tax report released Monday by the city.
The increase marks the eighth month this year in which collections have been up compared with the same month in 2011. Only March and September saw decreases. Through October, sales tax collections are $14,294,621, compared with $13,995,528 in 2011, an increase of 2.14 percent. The city budgeted for a 5 percent overall decrease in sales tax collections this year.
By category, sporting goods saw the largest percentage increase in sales tax collections in October with 17.4 percent. Lodging and amenities (8 percent), miscellaneous retail (4.5 percent) and liquor stores (0.5 percent) saw increases in collections, as well. Restaurants (-7.8 percent) and utilities (-3.2 percent) saw decreases in collections in October compared with last year.
By geographic area, sales tax revenue essentially was flat in downtown (0.3 percent) and the U.S. Highway 40 corridor (0.4 percent). Mountain businesses generated 24.5 percent in sales tax revenue growth compared with October 2011 while west Steamboat businesses produced 7.6 percent more in sales tax revenue.
Other tax revenue for the city:
• Building-use tax collections decreased 15 percent compared with last year. Year-to-date building-use tax collections are down 36.5 percent.
• Accommodations tax revenues ticked up 1.9 percent year over year, from $11,920 in October 2011 to $12,143 this October.
• The city’s new air service tax collected $64,269 in October, bringing the year-to-date total to $839,833.
Final October 2012 sales tax revenue
To reach Nicole Miller, call 970-871-4246 or email nmiller@SteamboatToday.com