Steamboat Springs sales tax revenues increase
October 13, 2011
Steamboat Springs — Steamboat Springs sales taxes increased nearly 6.7 percent in August from the same month last year, according to the final report released Wednesday afternoon by the city.
The figures changed only slightly from the preliminary report the city released earlier this month. Steamboat collected $1.38 million in August, up from $1.3 million in August 2010. That brings year-to-date collections to $11.6 million, up from nearly $11.2 million through August last year, a 3.76 percent increase.
Because the city projected sales tax revenue to decline 10 percent this year, Steamboat has collected nearly 14 percent more sales taxes than it expected. The city has projected sales tax revenue to remain flat for the rest of the year, compared with 2010.
City officials have said they thought the activity-filled August, including the USA Pro Cycling Challenge, led to the increase in sales tax collections.
While it's one of the smaller revenue categories, sporting goods saw the biggest increase by percentage in August at nearly 16.1 percent from August 2010. All revenue categories saw increases in August.
The city 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).
The base area and west Steamboat saw the biggest jumps by percentage compared with August 2010, at 13.5 percent and 14.6 percent, respectively. All locations also saw revenue increases in August.
— To reach Jack Weinstein, call 970-871-4203 or email jweinstein@SteamboatToday.com