Steamboat's November sales tax revenue increases

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— The final sales tax collections for November 2011 increased slightly from the preliminary report the city of Steamboat Springs released earlier this month.

According to the final report released Tuesday, collections increased about $2,300 to $1,036,354. The additional revenue means November 2011 saw a 5.3 percent increase in revenues from November 2010.

However, year-to-date collections in 2011 increased about $15,000 from the preliminary November report to $14,997,017, a 4.3 percent increase from the first 11 months of 2010.

Kim Weber, the city’s budget and tax manager, said the discrepancy between the increase in monthly collections and the year-to-date total was the result of Steamboat collecting back taxes from a customer who was delinquent.

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).

Those numbers didn’t change much from the preliminary report, which showed growth in November 2011 in nearly every category and geographic area.

November was the seventh consecutive month and eighth time overall in 2011 that sales tax collections exceeded those from the corresponding month in 2010.

Weber said she’s looking forward to seeing whether December, which historically is among the best months for sales tax collections, follows the trend.

“I think it will be really interesting because with the lack of snow, I’ve heard people concerned that the sales taxes will be down,” she said. “And I’ve heard other people that were encouraged because people were downtown walking around, going out to eat, which is taxable versus on the mountain, which isn’t taxable. We aren’t anticipating a huge increase, but I’m curious to see what it will turn out like.”

November 2011 sales tax revenue

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

Comments

Rob Douglas 2 years, 2 months ago

It would be helpful if more context was provided by the Pilot in these monthly reports. While year-over-year numbers are interesting, they can be misleading about where tax revenue stands against historic norms and/or high and low benchmarks over the period of a decade. An easily prepared chart of the last ten years would be far more beneficial than the table of geographic collections.

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BeCoolHoneyBunny 2 years, 2 months ago

I agree Rob.

Here's some info, the chart is on page 16. I'm sure you can find more detailed info if you do a little looking around on the web. Basically the city's tax collections have steadily increased year over year, except for the past few years. We are just above 2007 levels.

http://worldwest.media.clients.ellingtoncms.com/news/documents/2012/01/16/TaxPolicyAdvisoryBoard_Report.pdf

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Rob Douglas 2 years, 2 months ago

BCHB, Many thanks. In addition to the chart, I appreciate the link to the entire document and I will digest it. Also, I found the presentation before council tonight enlightening. If you were a part of that, thank you for a job well done. Rob

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