City sales tax revenue continues climb as year-end nears
STEAMBOAT SPRINGS — Nearly $1.8 million in sales and use taxes was collected by the city of Steamboat Springs in October.
This year’s October sales tax collections increased 11.7%, or $184,262, compared to October 2018. The month has represented about 6% of total annual collections for the past five years, according to the city.
The greatest increases in October came from taxes collected in the lodging and amenities category, as well as construction and home improvement.
Tax revenue collected through lodging saw a 36% increase compared with October 2018, bringing in nearly $180,000. Construction accounted for $288,000, a 19% increase over the previous year.
Notable increases in collections by area were 35% for the regional area and 15% for the mountain area.
From January through October, the city has collected $22,634,495 in sales tax, which is 8.24% more than the same period in 2018.
Steamboat ranks slightly above-average compared with other mountain resort communities across Colorado in terms of sales tax collection. Winter Park had the highest percentage increase — 7% — in October 2019 over the previous year.
To reach Bryce Martin, call 970-871-4206 or email bmartin@SteamboatPilot.com.
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