Sales tax collections show Steamboat got sporty in June
STEAMBOAT SPRINGS — It has been a hot summer in Steamboat Springs in more than one way.
June sales tax collections can serve as a good barometer of the business climate, and the news was encouraging with collections up 5 percent over last year. A total of $2,063,543 was collected this June.
“I’d say it’s a pleasant surprise,” City Manager Gary Suiter said. “It’s nice to see when our revenue comes in higher than projected although we make our projections conservative.”
The city depends on sales tax revenue to fund about 70 percent of government operations.
When budgeting, the city typically projects month-over-month growth of 3 percent. June sales tax collections typically generate 9 percent of the city’s sales tax revenue.
“It’s the beginning of summer, and the economy is good, and people have more discretionary funds,” Suiter said.
Restaurants were up 9 percent, lodging and amenities were up 12.7 percent and sporting goods saw a 15 percent jump.
“It might be people getting a new bike and stand-up paddleboard,” Suiter said. “My wife got a bike in June.”
A downtown bike shop is definitely noticing an increase in business.
“It was awesome,” Steamboat Ski and Bike Kare manager Jacob Ehrlich said. “Really good. Sales were way up.”
He said they have been selling a lot of bikes, and they had record sales in May.
“June’s not far off,” Ehrlich said. “And July was great.”
He thinks the popularity of electric bikes also helped sales.
Ehrlich thought a slow winter in terms of snowfall may have also led to an increase in bike sales in Bike Town USA.
“People were ready for bike season,” he said.
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