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2009: Tax Structure Tax Structure 2009/10 by Molly Killien Buy Local
A program to benefit the bottom line, and the local tax base
Account for all the people and establishments on which a business depends and it becomes clear that no business works alone. The “Buy Local” campaign is bringing attention to the importance of supporting local commerce.
One focus of the Buy Local campaign is challenging customers to turn five percent of their out-of-town purchases into local ones. This not only raises awareness of local businesses, but greens Steamboat Springs because buying locally minimizes the carbon footprint of transportation and reduces individual packing material waste. Shopping among neighbors for goods and services also builds a strong community.
Pilot Office Outfitters owner Tom Ptach says creating local business partnerships “keeps us looking out for each other and encourages us to do business with those who are doing business with us….Our company has a vested interest in the welfare of this community.” It also keeps sales tax dollars in Steamboat, supporting local government, transportation, schools and recreation.
“When making a purchase, a lot of people are looking for immediate gratification instead of thinking about the big picture,” says Steamboat Motors owner Jeff Steinke. “When people recognize that their dollars affect their neighbors, they will help businesses become more viable and choose to buy locally.”
Fast Facts
Tax Structure
• Sales tax: Steamboat Springs 4%, Colorado 2.9%, Routt County 1% and Routt RE-2 School District 0.5%
• A 1% short-term lodging tax supports recreation and lodging industry amenities.
• A local marketing district that encompasses ski area and downtown lodging establishments assesses a 2% lodging tax toward flight guarantees.
• A 0.5% school tax allocated by the Education Fund Board supports technology, capital projects and educational excellence.
• Routt County reappraises property values every odd year for the two following years. This market value is multiplied by the assessment rate of 7.96% for all residential properties (29% for all other properties). Mill levies are determined by individual tax areas.
• Commercial property accounts for four times the amount per $100,000 in valuation as residential property tax.
• Colorado income tax: 5% of taxable federal income
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