Steamboat's May sales tax numbers up from 2011

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— City of Steamboat Springs sales tax revenues increased 6 percent in May, according to a preliminary report released Monday afternoon.

The city collected $925,511 in sales taxes in May, up from $872,257 in May 2011. That’s an increase of 6.11 percent. May’s collections represent the most collected during that month since 2008, when May brought in $1.08 million to city coffers.

The May 2012 numbers push the city’s year-to-date collections to $7.48 million, up about 1 percent ($70,000) from the $7.41 million collected through the first five months of 2011. The city had budgeted for a 5 percent decrease in overall sales tax revenues this year.

The city classifies its sales tax revenue sources into six general categories: miscellaneous retail; lodging and amenities; sporting goods; utilities; restaurants; and liquor stores. The category with the largest dollar volume jump from May 2011 to May 2012 was miscellaneous retail, which grew by $47,000, or 9.25 percent, from $506,462 to $553,3329. The utilities category experienced the largest dollar volume drop in May, falling from $131,300 in 2011 to $116,965 this year.

May’s growth in sales tax revenue was somewhat offset by the decrease in building use tax revenue. That revenue stream fell from $139,032 in May 2011 to $77,956 this year. Year-to-date building use tax revenues are down 40 percent.

The city’s accommodations tax assessed on nightly lodging properties was more stable in May, experiencing a decrease of 1.4 percent, or $143, from May 2011 revenues. The city’s new local marketing district air service tax collected $116,757 in May, bringing the year-to-date total to $416,281.

May’s actual numbers could adjust slightly when the city issues its final revenue report in two weeks. The city of Steamboat Springs does not collect a property tax, making sales tax collections its single largest stream of revenue.

2012 preliminary May sales tax revenues

Comments

Scott Wedel 1 year, 9 months ago

Nice spin of the numbers saying it was the most since May 2008. Technically true, but still a very significant 15% less than May 2008.

Other than that, woohoo free money for City Council to spend as if the end of the world is soon and so no need to worry if the spending is sustainable.

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