CityofSantaBarbara
Sales Tax Results for the City of Santa Barbara – Quarter Ended March 31, 2024
The City of Santa Barbara received $6.9 Million in sales tax revenue during the quarter ended March 31, 2024, which is the third quarter of the City’s fiscal year.
Year to date, total sales tax revenues are coming in about 5.0% below budget. For Fiscal Year 2024, the City’s sales tax revenue budget is $30.6 Million.
View the Sales Tax (Page 1).
Transient Occupancy Tax Results for the City of Santa Barbara – Month Ended April 30, 2024
The City of Santa Barbara collected $2.7 Million in Transient Occupancy Taxes (TOT) for April 2024, the tenth month in the City’s fiscal year.
Year to date, the City has collected $26.0 Million in overall TOT, of which approximately $24.0 Million came from hotels and $2.0 Million from short-term rentals. Year to date, total TOT revenues are coming in 4.0% below budget.
The Transient Occupancy Tax (TOT) is a Tax on “Transient” guests staying in any hotel, inn, motel, or other commercial lodging establishment for a period of less than 30 days.
The City’s adopted TOT budget for all funds is $33.0 Million, of which $27.5 Million is budgeted in the General Fund.
View the Transient Occupancy Tax Table (Page 2). The City’s TOT tax rate is 12.0%, of which 10.0% goes to the City’s General Fund and the remaining 2.0% goes to the Creeks/Clean Water Fund.
Sounds like whoever made the budget projections were off. I’m curious what the comparable revenue were compared to last year. Did the budget committee over project or are revenues down year over year?
Could it be that tourists AND locals aren’t coming downtown nearly as much as the City minions guessed?
Could it be you have zero experience creating revenue projections?
Duh…. It’s THE ECONOMY…! Have any of you gone out to local restaurants and seen the price increases…? Breakwater, $22 bucks for an omelet, Joe’s, 30% increase in every item on the menu…. The economy SUCKS!