Steamboat allocates $5 million in short-term rental tax revenue to housing authority for Cottonwoods project

Steamboat allocates $5 million in short-term rental tax revenue to housing authority for Cottonwoods project

Steamboat Springs City Council has approved a $5 million allocation to the Yampa Valley Housing Authority to support construction of its Cottonwoods at Mid Valley Project. The funding is being drawn from the city’s estimated $14.8 million in short-term rental tax revenue collected in 2024 and will support the project’s affordable homeownership opportunities in its second phase of construction. “The city continues to partner with local organizati…

Two years after Steamboat voters passed STR Tax, the first $10 million is going to three very different projects

The city approved a loan in exchange for first dibs on units, awarded a grant to convert a project into condos and used $2.5 million in a move to help save Casey’s Pond. The first $10 million in revenue from Steamboat Springs’ 9% tax on short-term rental stays was allocated to three very different projects aimed at supporting affordable housing, and the city still has more than $14 million in the bank. Last week, Steamboat Springs City Council a…

Bill would allow resort tax revenue for workforce housing

The Montana Legislature is considering legislation that would allow resort communities that have opted for a local sales tax to use the money the tax raises for workforce housing. Continue reading…