February sees slight increase in sales tax collections
April 2, 2014
Steamboat Springs — The preliminary February sales tax report released by the city of Steamboat Springs shows the continuing trend of gains, even if just a slight increase.
Sales tax collections for February are projected to be 2.8 percent higher than they were in February 2013, according to the report released Tuesday.
That brings the year-to-date total for 2014 to $4,038,994, an increase of 5.3 percent over 2013, which had $3,835,981.
The largest gain came from the building-use tax with a 68 percent increase over February 2013 at $12,491 compared to $7,413.
Categories that are expected to see an increase in collections include miscellaneous retail (3.9 percent), lodging and amenities (5.3 percent), restaurants (3.3 percent) and liquor stores (4.3 percent). Sports goods (-0.2 percent) and utilities (-5.4 percent) are projected to have a decrease in collections.
Sales tax by area saw the regional area with the most gain at 5 percent, and West Steamboat with a -0.7 percent decrease.
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The final February sales tax report is expected to come out later this month.