City Finishes Fiscal Year With Healthy Transient Occupancy Tax Growth
The City of Santa Barbara collected approximately $1.55 million in transient occupancy taxes (TOT) in June, a 10% growth over the same month last year. Visitor travel remained healthy last month, helped by sunny weather, clear skies, and an increase in the number of available rooms. June 2013 TOT collections are the most that the City has recorded during a month of June.
June marks the final month in the City’s fiscal year, which runs from July 1 through June 30. TOT finished the year at $14.68 million with an overall growth rate of 7.4% for the year. While the total TOT revenue exceeds the adopted budget by approximately $189,411, it is still slightly below the estimate of $14.71 million used to develop the fiscal year 2014 budget estimates.
Additional information on transient occupancy tax results can be found here:http://www.santabarbaraca.gov/Files/Finance/Transient_Occupancy_Tax_June_2013.pdf
Previous Revenue News releases can be viewed here:http://www.santabarbaraca.gov/Government/Finance/General_Fund_Revenue_News
Contact: Genie Wilson, Treasury Manager
Phone: (805) 564-5528