City of Steamboat Springs sales tax report shows 6 percent increase for May 2014
July 17, 2014
The city of Steamboat Springs released its final May 2014 sales tax report showing a 6 percent increase from sales tax collections in May 2013, a difference of $60,668.
The year-to-date total collections now stand at $8,575,984 for 2014, a 6.6 percent increase from the same time last year.
Notable categorical increases included lodging and amenities with a 19.6 percent and restaurants with a 17.4 percent over last year. Miscellaneous retail (5.2 percent), sporting goods (3.1 percent) and liquor stores (5 percent) all saw increases, as well, with utilities bringing in $127,537 over $136,280 in May 2013, posting the only negative sales tax collection by category.
Collections by area showed increases for downtown at 12.3 percent, 10.2 percent for mountain area and 9.4 percent for West Steamboat area over May 2013.
The building-use tax continues to show an increase, bringing in $191,462 in May 2014 compared to $125,425, making it a 53 percent increase over last year. The year-to-date total for building-use tax now stands at $408,461. The building-use tax is used to fund capital projects for the city of Steamboat Springs.
Read the full report here.
Other resort communities
Several Colorado mountain resort communities experienced better sales tax growth than Steamboat in May, while others lagged.
Frisco led the way among a group of 10 resort communities highlighted in the report released by the city of Steamboat Springs this week. Frisco saw sales tax receipts increase 27.9 percent in May 2014 compared with May 2013.
Compared to Steamboat's 6 percent increase, Telluride revenues increased 14.2 percent, Aspen revenues increased 11.6 percent and Winter Park saw a 7.7 percent increase.
Other towns that saw an increase were Breckenridge (7.2 percent), Crested Butte (6.8 percent) and Glenwood Springs (3.6 percent).
There were two mountain towns that saw a decrease in revenue, Snowmass Village at -8.3 percent and Vail at -1 percent.