Revenue increase trend continues
Steamboat Springs — Steamboat Springs city sales tax revenues figures continue to support the buzz on the street that things have been busy this summer and business is good.
Steamboat City Council member Susan Dellinger said a lot of that can be attributed to the large number of people visiting Steamboat this summer.
“I’m buzzed,” Dellinger said. “Most everything is up, even though gas prices are up. We’ve had a lot of people come through.”
She specifically pointed to Triple Crown Sports softball and baseball tournament participants as important to the local economy.
For June, sales tax collections increased 10.88 percent compared to June 2005, according to a financial report compiled by the city. In May, sales tax revenues were up 14.6 percent compared to May 2005.
For all of 2006, sales taxes are up 12.73 percent, which translates into an additional $1,039,024. As of June, $9,197,917 in sales tax revenues had been collected. June sales tax revenues were $1,254,253.
Steamboat has seen double-digit increases in sales tax revenues in every month except February, when revenues increased 7.4 percent.
The Steamboat Springs City Council has chosen to use the money on several projects. Nearly $1 million in additional funding was allocated for a new community center. The money also has been used for additional costs that were incurred by a project burying utility lines in the alley between Yampa Street and Lincoln Avenue.
The increase in sales tax revenues has been encouraging, Dellinger said.
“I think it’s important to budget conservatively, but it does allow us to do a lot of things, which helps,” she said.
Steamboat continues to outpace a number of Colorado resort communities in terms of percentage change compared to last year’s sales tax revenues.
In May and June, Aspen reported increases of about 1.5 percent. Vail had a sluggish May and June after a 40 percent increase in April revenues. In June 2006 compared to June 2005, Vail’s sales tax revenues were down about 7 percent.
Steamboat’s share of the 8.4 percent sales tax is 4.5 percent, with a half-percent of that going to the Steamboat Springs Education Fund.
The Steamboat Springs sales tax revenue report is separated into six categories. The largest June increase was for liquor stores, up 22.31 percent to $47,410. Sporting goods were up 16.05 percent; lodging, 13.27 percent; restaurants, 12.04 percent; miscellaneous retail, 10.48 percent; and utilities, 2.35 percent.
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In an effort to make Steamboat Springs Transit buses safer and more accessible, solar-powered lighting in bus shelters and a GPS-triggered automatic voice system that will announce stops in English and Spanish are being implemented.