Hotel Tax Revenue Projected to be 9% Over Budget
CityofSantaBarbara
July 25, 2023, 7:24 am
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By the City of Santa Barbara
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 of Santa Barbara collected $2.86 million in Transient Occupancy Taxes (TOT) for June 2023, in line with the monthly budget and the expectation of strong spring and summer months. Year to date, TOT revenues are coming in 9% over budget.
The City has collected $30.8* million through June, the last month in the City’s fiscal year. The City’s adopted TOT budget for all funds is $28.3 million, of which $23.6 million is budgeted in the General Fund.
The Transient Occupancy Tax table can be viewed on the attachment. The City’s TOT tax rate is 12%, of which 10% goes to the City’s General Fund and the remaining 2% goes to the Creeks/Clean Water Fund.
*Preliminary number for fiscal year 2023, subject to change at year-end reconciliation.
Written by CityofSantaBarbara
