Steamboat Springs financially survived a winter tourism season, that some believed was under threat because of winter’s late arrival, due to record marijuana sales in March, reports Summit Daily.
“I think it’s a pleasant surprise,” City Manager Gary Suiter said. “We depend on the snow.”
Record marijuana sales in March helped contribute to financial success, with the city collecting $2.9 million in total sales tax revenue, 3.5 percent more than in March 2017. While contributing to only 2 percent of the city’s annual sales tax collections, the local pot industry continued to help pad the city’s coffers.
Steamboat’s three dispensary businesses again saw record sales in March of $1.3 million. The city’s 4 percent sales tax cut of that was $52,692. But Suiter cautioned the city should not rely on marijuana sales tax revenues:
“In the long run more and more cities and states are legalizing recreational marijuana, and over time, I think the revenue pie is going to dilute,” Suiter said.
Suiter said he was curious to find out what sales tax collections were from April. Steamboat Ski Area closed for the season April 15.
“It seemed like there were a lot of people here,” Suiter said. “It’s just hard to get a barometer on that and people’s spending patterns.”
