Steamboat Springs’ preliminary June sales tax report shows year-to-date revenue collections are 1.75% higher compared to 2023, but revenue in June was down 2.34% compared to June 2023.

According to the city, when comparing this June to the same month last year, the notable changes in collections by category came in marijuana (-13.01%), sporting goods (-12.85%) and miscellaneous retail (2.58%), over last June.

Changes were seen in most geographical areas including the downtown and out-of-town areas.

In July, Finance Director Kim Weber told Steamboat Springs City Council to prepare for a tight budget year with city staff projecting a 2% increase in total tax revenues in 2024 compared to last year.

“The main takeaway from this slide is this year you are not seeing the same increases as last year or the year before, so things are cooling off,” said Weber.

Accommodation tax revenues posted a 0.06% increase in June compared to the same month last year. So far in 2024, the tax, which is primarily dedicated to local trail projects, is 7.67% higher than collections recorded in the same period last year.

Used to fund capital projects and based on the building permits issued, use tax reconciliations and the size and number of developments in the city, building-use tax collections in June were 44.81% higher compared to June 2023 with year-to-date collections exceeding $1.1 million. 

Short-term rental taxes last month were 4.67% lower compared to June 2023, a decrease of $26,356. Year-to-date, the short-term rental revenue is 150.18% more than it was through the same period last year.

According to the city, the increase is related to the exemption during fiscal year 2023 where reservations booked on or prior to Dec. 31, 2022, for stays occurring between Jan. 1, 2023, and June 15, 2023, were not subject to the short-term rental tax.