Steamboat city sales tax collections continue rebound in June
Sales tax collections in the city of Steamboat Springs for the first half of 2021 were roughly 23% more than the same period last year, according to a report recently released by the city.
The city took in $16,102,648 in taxes from January through June, almost $3 million more than the same time in 2020. Collections in June totaled $2,024,257, 45% more than in June 2020 and 29% more than June 2019.
Historically, June represents about 8% of annual collections, according to the city. June’s collections were negatively impacted last year by the COVID-19 pandemic, particularly because of restrictions on short-term rentals and other accommodations.
In June, collections in all sectors showed an increase, including lodging and amenities, which saw the greatest rise at 192%. Collections from restaurants, which struggled throughout the pandemic, also increased by 73% in June.
A majority of sales tax collected in June was from along the U.S. Highway 40 corridor. 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.
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The greatest increase in taxes collected was seen in purchases made in Steamboat’s mountain area, a 154% increase over last June.
The city’s accommodations tax was up 29% in June 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 $187,187 in June, up 119% through the same period last year.
To reach Bryce Martin, call 970-871-4206 or email bmartin@SteamboatPilot.com.
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