City ends 2019 with almost 8% more sales tax collected than previous year
STEAMBOAT SPRINGS — More than $3.5 million in sales and use taxes was collected by the city of Steamboat Springs in December, according to a report recently released by the city.
The December 2019 sales tax collections increased 3.97%, or $136,323, compared to December 2018. The month has represented about 13% of total annual collections for the past five years, according to the city.
The greatest categorical increases in December came from taxes collected from construction and home improvement and miscellaneous retail.
Tax revenue collected through construction saw a 22% increase compared with December 2018, bringing in over $345,000. Miscellaneous retail — the largest sales tax category during the month — accounted for over $780,000, a nearly 10% increase over the previous year.
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“The construction and home improvement category was up because almost all businesses in that category showed an increase in sales tax collections,” said Kim Weber, city finance director. “This was not just isolated to one area, but overall higher sales as well as an increase in out-of-town businesses selling products within our area that collected and remitted tax.”
Major local utility providers had a decrease in sales tax collections during the month, down 11%, or nearly $25,000, from 2018. Weber suggested the decrease could be due to the lower price of natural gas or lower usage because of temperature fluctuation.
The average low temperature was 4.4 degrees in December 2018 and 7 degrees in December 2019, according to the National Centers for Environmental Information, part of the National Oceanic and Atmospheric Administration.
A breakdown of the sales tax in Steamboat Springs.
- City of Steamboat Springs sales tax: 4%
- School tax: 0.5%
- State of Colorado: 2.9%
- Routt County: 1%
Total combined tax rate: 8.4%
A notable increase in tax collection by area was a 12% increase for the regional area.
In 2019, the city collected $25,945,746 in sales tax, which was 7.59% more than 2018.
To reach Bryce Martin, call 970-871-4206 or email bmartin@SteamboatPilot.com.
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