PRESS RELEASE / ANNOUNCEMENTS Tuesday, September 25, 2012

Transient Occupancy Tax Up in August

Transient occupancy tax (TOT), the City’s 12% bed tax, came in strong during August, growing 7.5% over the same month last year.

August 2012 had one more weekend day than August 2011, contributing to the strong results. On average, August is the largest month for bed tax collections in Santa Barbara. August collections totaled just over $1,825,600 this year.

The City’s fiscal year runs from July 1 through June 30 each year, and August marks the end of only the second month of the year. TOT growth year-to-date is 5.4%, slightly below the 6.1% growth forecast contained in the adopted budget. The fiscal year 2013 TOT budget is $14,489,200.

The Transient Occupancy Tax table can be viewed here.

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