City of Steamboat sees slight dip in May sales tax
Year-to-date collection showing increase
STEAMBOAT SPRINGS — City sales and use tax collection in May saw a slight decrease when compared to the previous year, according to a report released by the city.
The city took in just over $1.4 million in May, representing a 0.15% decrease from 2018. The largest decreases during the month came in the construction, liquor, lodging, sporting good and miscellaneous retail sectors.
Collections in May, however, only represent 5% of the city’s annual collections. So far in 2019, the city has collected nearly $11.7 million in sales taxes, an increase of about 7.5% compared to the same time last year.
A breakdown of the sales tax in Steamboat Springs.
- City of Steamboat Springs sales tax: 4%
- School tax: .5%
- State of Colorado: 2.9%
- Routt County: 1%
Total combined tax rate: 8.4%
Notable sales tax gains in May 2019 were seen in the marijuana and utilities categories, according to the city.
The only geographical area where sales taxes are collected that showed an increase in May was from the regional Steamboat area, with downtown, U.S. Highway 40, the mountain and West Steamboat each seeing a decrease from May 2018.
To reach Bryce Martin, call 970-871-4206 or email bmartin@SteamboatPilot.com.
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