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City Posts Dramatic Gains in Sales and Bed Taxes

Thursday, October 4, 2012
By Nick Welsh (Contact)

The City of Santa Barbara is almost out of the fiscal woods — but not quite — after posting dramatic gains in sales taxes and bed taxes for the past year. As a result, City Hall finished the year with $1.8 million in unspent revenues left over in the general fund. City Finance Director Bob Samario began the year projecting a shortfall of $1.5 million. In the last fiscal year, city sales taxes were up 9.1 percent over the previous year. Likewise, bed taxes were up 9.7 percent. Last year’s national average, Samario said, ranges between 5 and 6 percent.

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