March sees drop in sales tax revenues for Steamboat
May 16, 2012
Steamboat Springs — A final March revenue report from the city of Steamboat Springs offered slightly better news than the preliminary report issued two weeks ago.
The city's sales tax revenues dipped 5.2 percent in March, an improvement over the 5.6 percent decrease first reported earlier this month. Steamboat brought in $2.04 million in March, down from $2.15 million in March 2011.
The city's year-to-date sales tax collections are 1.3 percent off last year's pace. The city has collected $5.56 million this year, down from $5.63 million through the first quarter of 2011.
The most noticeable year-over-year decline in March came in the lodging and amenities category, which fell more than 12 percent from March 2011 collections. Several resort lodging executives have previously told the Steamboat Today that March was a particularly difficult month for their industry. Sporting goods retailers and restaurants experienced 7 percent sales tax revenue declines in March.
City officials budgeted for a 5 percent overall sales tax revenue decline in 2012.