Declining Growth in Santa Barbara’s Sales and Transient Occupancy Taxes
Edhat Staff
September 29, 2017, 11:55 am
4.1k Views
3 Comments
Source: City of Santa Barbara
Sales Tax Results for the Quarter Ended June 30, 2017
Santa Barbara received approximately $5.4 million in sales tax revenues during the quarter ended June 30, 2017, a 2.7% decrease over the same quarter last year. Since sales tax revenues are received quarterly from the State, and one quarter in arrears, the City receives the 4th quarter results for each fiscal year in September, which also marks the final sales tax payment for fiscal year 2017.
Approximately $21.4 million in sales taxes were received in fiscal year 2017, a decrease of about $97,000 from the prior year and below the adopted budget of $22,381,000.
For additional information on recent sales tax results, click here.
Transient Occupancy Tax Down in August
The City of Santa Barbara collected approximately $2.14 million in Transient Occupancy Taxes (TOT) for the month of August 2017, which represents a 6.0% decrease compared to August 2016. TOT collected from hotels decreased 0.5% and short-term rentals experienced a decline of 75%. Since short-term rentals constitute a relatively small portion of overall TOT, the large decline in this sector does not have a corresponding impact on overall TOT growth. This anticipated decline in TOT from vacation rentals is the result of the City’s efforts, beginning in fiscal year 2017, to enforce existing zoning ordinances prohibiting vacation rentals in certain zoning districts.
The City has collected approximately $4.5 million through two months of this fiscal year, which runs from July 1through June 30. The City’s adopted TOT budget is $19,262,400.
The Transient Occupancy Tax table can be viewed here.
Written by Edhat Staff
Comments
1 Comments deleted by Administrator
Leave a Review or Comment
You must be logged in to post a comment.
3 Comments
….which directly coincides with the increase in the transient occupancy of the benches (or should we call them “stenches”) on State St. —- thank you Mayors Blum and Schneider for turning paradise into doo-dooland…. I wonder which cush job Helene is going to be installed into…something similar to what Marty got no doubt…
Perhaps SB should allow dispensaries and deliveries and get a piece of the pie from the Golden State!
http://www.marketwatch.com/story/marijuana-tax-revenue-hit-200-million-in-colorado-as-sales-pass-1-billion-2017-02-10
Blum, Schneider….please no more of this incompetent ilk. Let’s not make Cathy Murillo the third stooge on this list.