The city of Colorado Springs collected $20,167,536 in sales and use tax revenue in August, according to the latest report from Senior Budget Analyst Sarah Freier.
Revenue from the city’s combined 2 percent sales and use tax continued to climb, increasing 22.36 percent as compared with August 2020, and 29.12 percent for the year to date.
Sales tax collections rose 24.4 percent for the month and were up 29.92 percent for the year to date, Use tax collections dropped slightly for the month, down 7.25 percent, but were up 13. 94 percent for the year to date.
Collections in August primarily reflect business activity in the previous month. The revenue funds the city’s day-to-day operations.
Sales tax collections from business services firms showed the largest monthly percent increase over the same month of last year, growing 132.52 percent. Collections from hotels and motels increased 104.93 percent.
Industries with the largest monthly percent decrease were medical marijuana, down 31.52 percent, and auto repair and leases, down 5.8 percent.
Collections of the 2 percent lodger’s tax and 1 percent auto rental tax also increased in August.
For the month, collections of the combined LART tax were up 102.81 percent, and increased 109.83 percent for the year to date.
Separately, lodger’s tax revenue was up 102.14 percent for the month and 112.84 percent for the year to date. Collections of the auto rental tax rose 112.75 percent for the month and were up 80.10 percent for the year.
Collections of the 0.1 percent trails, open space and parks tax amounted to $1,008, 377 in August and were up 29.12 percent for the year to date.