Steamboat ends 2013 with strongest monthly sales tax gain of the year
February 20, 2014
Steamboat Springs — The city’s latest sales tax report reveals Steamboat Springs had its second-best December of the past decade.
Sales tax revenue grew by 10 percent, or $222,703, in December 2013 over December 2012.
The nearly $2.5 million collected in December was surpassed in the past decade only by December 2007, when $2.6 million was collected.
Steamboat collected $18.8 million in sales tax last year, up $1.2 million, or 7 percent, from 2012.
"We still aren’t quite back to our 2007 tax level, but to start seeing those large increases come back is a great sign, especially when we are expecting more growth," Finance Director Kim Weber said.
The city also will add about 13 percent more in sales tax revenue to reserves than it included in its 2013 budget.
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All of the city’s industry sectors, from retail to lodging, saw gains in December, historically the biggest sales tax month of the year.
The mountain area saw the biggest revenue gains while collections in the downtown area were flat.
"It seems to me we saw the biggest growth in restaurant and lodging, but not so much in retail sales downtown," Weber said.
Because of the processing of some late tax filings, the final report was a marked improvement from the preliminary one released just a few weeks ago.