Tuesday, January 17, 2012
Steamboat Springs 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