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Sales tax revenues up slightly

Scott Stanford

— Sales tax revenues rose 3.1 percent in October from the same month a year ago, according to the city’s sales, use and accommodation tax report.

Sales tax revenues for October were $868,525 on $21.7 million in retail sales. By comparison, receipts were $842,089 on $21 million in retail sales in October 2003.

For the year, sales tax revenues total $12.13 million, a hefty 6.5 percent increase from the $11.39 million collected from January through October 2003.

Steamboat has seen sales tax revenues increase from the same month the year before in 11 of the previous 12 months. Only August 2004, which was down less than 1 percent from August 2003, showed a decline.

The October report showed retail sales increases in every category except sporting goods. Lodging, restaurants, utilities, liquor stores and miscellaneous retail all posted increases of 2.4 percent or more over October 2003. Sporting goods were down 2.25 percent.

The mountain, U.S. Highway 40 corridor and regional areas posted sales tax increases while the downtown and West Steamboat areas saw drops compared with October 2003.

Steamboat also enjoyed a good month compared with other mountain communities. Winter Park, Vail, Glenwood Springs and Snowmass saw sales tax declines in October. Aspen and Breckenridge posted gains.

Steamboat’s 6.5 percent gain in retail sales year to date is stronger than other comparable mountain communities except Aspen (7.4 percent) and Snowmass (7.8 percent).

The city’s building-use tax collections for October totaled $158,471. That’s down 23.5 percent from the $207,280 collected in October 2003. Still, building-use tax collections for the year to date total $1.488 million, a 55 percent increase over the $957,687 collected from January through October 2003.

Steamboat’s accommodation tax dropped slightly in October. Collections were $12,280, a 2.1 percent decline from October 2003. It is the first decline in the accommodation tax since May.

Year to date, accommodation tax collections total $522,987, a 2.5 percent increase over 2003.

— To reach Scott Stanford, call 871-4221

or e-mail sstanford@steamboatpilot.com


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