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January 2016 Sales Tax Report Released

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COLORADO SPRINGS, Colo. – The Colorado Springs Sales Tax Report released today shows Sales Tax revenue collected by retailers in January rose by 9 percent when compared to the same month last year. Lodger’s and Auto Rental Tax is up almost 20 percent over January 2015.

Revenues collected from Ballot Item 2C, to fund road improvements and repairs yielded more than $3 million. This meets expectations based upon normal business activity that occurs in January.

“I know our citizens are anxious to see the significant road improvements made possible by the passage of Ballot measure 2C in November. This is our first indicator of revenues gained from this temporary sales tax increase, and we will begin concrete work this month. Paving, which can only be done in warmer weather, will follow. I can’t overstate the importance of this effort in the continued improvement of our great city, and we are grateful to Colorado Springs voters for putting their support behind improving our roads and infrastructure,” said Mayor John Suthers.

Tax Collected: 

2.0% Sales and Use Tax – General Fund                       $10,490,529

0.62% 2C Road Tax                                                     $  3,037,921

0.4% Public Safety Sales and Use Tax – PSST              $  2,098,106

0.1% Trails, Open Space and Parks Tax - TOPS            $    524,526

2.0% Lodger’s Tax                                                      $    226,382

1.0% Auto Rental Tax                                                 $      37,497

Highlights:

  • Sales and Use Tax combined is up 8.08 percent for the month and year-to-date.
  • Sales Tax is up 9.03 percent for the month and year-to-date.
  • Use Tax is down 5.58 percent for the month and year-to-date.
  • PSST and TOPS percent are similar to the combined sales and use tax percentages. 
  • Lodgers and Automobile Rental Tax (LART) is up 19.91percent for the month and year-to-date.

The complete report for is available at https://coloradosprings.gov/sites/default/files/images/2016februarycombinedreport.pdf.