Steamboat city sales tax collections continue rebound in April
Sales tax collections in the city of Steamboat Springs during the first five months of 2021 were nearly 20% more than the same period last year, according to a report recently released by the city.
The city took in $13,160,024 in taxes from January through May, about $2.2 million more than the same time in 2020. Collections in May totaled $1,929,132, 38% more than in May 2020 and 33.6% more than May 2019.
Historically, May represents about 5% of annual collections, according to the city. May’s collections were negatively impacted last year by the COVID-19 pandemic, particularly because of restrictions on short-term rentals and other accommodations.
Collections in all but two sectors showed an increase in May. Lodging and amenities saw the greatest rise, at 395.75%. Collections from restaurants, which struggled throughout the pandemic, also increased by 142.32% in May.
Collections from liquor stores saw a slight dip of almost 3% in May since last year. Sporting goods also saw a decrease in sales tax of 15% in May.
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A majority of sales tax collected in May was from along the U.S. Highway 40 corridor, followed by downtown Steamboat.
Individuals purchasing goods from outside of town, namely through direct online ordering or other methods, contributed to a 72% increase in sales tax collected from that category. More taxes were collected locally than through purchases made online, according to the city’s report.
The greatest increase in taxes collected was seen in purchases made downtown, a 94% increase over last May.
The city’s accommodations tax was up 19.15% in May compared with last year. The accommodation tax is primarily dedicated to local trail projects, since the Yampa Street improvements portion of Referendum 2A was completed last year. A small amount each year is also dedicated toward the marketing of these projects and capital improvements at Haymaker Golf Course.
Building use tax, which is used to fund the city’s capital projects, netted $460,923 in May, up 321% through the same period last year.
To reach Bryce Martin, call 970-871-4206 or email bmartin@SteamboatPilot.com.
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