Steamboat’s October sales tax shows increase
STEAMBOAT SPRINGS — Sales tax collections, which serve as the city of Steamboat Springs’ primary source of revenue, increased in October for the third time since the onset of the novel coronavirus pandemic.
The city brought in $2,098,665 in October, up 18.6% from October 2019. The increase helped the city’s cumulative sales tax collection increase slightly, which remains down for the first half of the year. Total sales tax collected was $22,285,179 from January to October, down about 1.7% from the same time last year.
In October, sales tax was down only in one category — utilities — from 2019. Collections from cannabis stores showed the highest gain, posting an increase of 38% over last year. Sporting goods and lodging and amenities collections also showed notable increases over the previous year.
Lodging and amenities saw a 34% increase over October 2019, the third month this category showed an increase since the beginning of the pandemic. Because of COVID-19 restrictions that were previously in place, sales tax collected from lodging decreased through late spring and summer. Collections from restaurants also showed an increase of about 8% in October.
Individuals purchasing goods from outside of town, namely through direct online ordering or other methods, contributed to a 55% increase in sales tax collected from that category.
The city’s accommodations tax was up 34% in September compared to last year. Year-to-date accommodations tax is down 10%.
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 also is dedicated toward the marketing of these projects and capital improvements at Haymaker Golf Course.
To reach Bryce Martin, call 970-871-4206 or email bmartin@SteamboatPilot.com.
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STEAMBOAT SPRINGS — James “Jim Bob” Moffett was a geologist, a former college football player and oil wildcatter, who built Freeport-McMoRan into one of the world’s leading natural resource companies.