STEAMBOAT SPRINGS, COLORADO-October 16, 2023-The city has published the final August 2023 sales, use, accommodation, and STR tax report. The August 2023 sales taxes increased by 2.93% compared to the August 2022 collections or an increase of $88,782.
Year-to-date sales tax collection is 4.85% more than year to date through the same period last year. For the past 5 years, August collections represent about 8.02% of annual collections.
When comparing this August to the same month last year the notable changes in collections by category are in miscellaneous retail at 12.94%, construction and home improvement at -11.84%, and marijuana also at -11.86% over last August. Changes were seen in most geographical area categories except West Steamboat and Downtown.
Accommodation Tax is primarily dedicated to local trail projects. A small amount each year is dedicated towards the marketing of these projects and capital improvements at Haymaker. August collections are 2.12% lower compared to the same period last year. Year-to-date accommodation tax collection is 3.88% more than in the same period last year.
Short-Term Rental tax (STR tax) is dedicated for use to increase the stock of affordable and attainable housing by providing incentives and contributions to facilitate the development of affordable and attainable housing at locations including, but not limited to, Brown Ranch and to provide funding for infrastructure associated with affordable and attainable housing, including without limitation, energy, stormwater, water, wastewater, and multi-modal transportation. August STR tax collection is $682,023. Year to date collections is $7,011,381.
Building Use Tax is used to fund capital projects for the City of Steamboat Springs. This tax fluctuates depending on building permits issued, use tax reconciliations completed, and the size and number of developments in the City. August net use tax collections total $365,054.
The city’s Tax Division strives to provide superior services. General tax information and staff contacts can be found on the Municipal Tax page. The webpage provides an efficient way for customers to access information on sales tax rates, online sales tax filing, construction use tax, the excise tax on construction, vehicle use tax, STR tax, and links to documents, reports, and the sales tax code.
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Contact
Nella Poquette, Budget and Tax Manager, 970.871.8256 or email.