STEAMBOAT SPRINGS, COLORADO-September 16, 2024-The city has published the final July 2024 sales, use, accommodation, and STR tax report. The July 2024 sales taxes are 4.61% higher compared to the July 2023 collections or an increase of $151,116. Year-to-date sales tax collection is 2.33% more than year to date through the same period last year.
When comparing this July to the same month last year the notable changes in collections by category are in construction at 19.5%, grocery stores at 8.06%, and sporting goods at -13.07%, over last July. Changes were seen in most geographical area notably West Steamboat and Out of Town areas.
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. July collections are 4.23% higher compared to the same period last year. Year-to-date accommodation tax collection is 7.36% 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.
July STR tax collection is 3.77% higher compared to July 2023 or an increase of $29,214. Year to date short- term rental tax collections is 126.51% more than year to date through the same period last year. This increase is related to the exemption during fiscal year 2023. In fiscal year 2023, reservations booked on or prior to December 31,2022 for stays occurring between January 1,2023 and July 15,2023 were not subject to STR tax.
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. July use tax collection is 137.57% higher compared to July 2023 or an increase of $1,060,539. July net use tax collections total $1,831,427.
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
Michael Lane, Communications Manager, 970.871.8220 or email