Transient Occupancy Tax Up 12.5% in July

In the first month of the new fiscal year, the City of Santa Barbara collected more than $2.0 million in Transient Occupancy Taxes (TOT), resulting in growth of 12.5% over the same month last year. Continued good weather and additional available rooms in the City appear to be the primary factors for the TOT growth this month. The fiscal year 2014 TOT budget is $16,202,000 and assumes an overall growth of 10.4% in relation to fiscal year 2013. The City’s fiscal year runs from July 1 through June 30 each year.

The Transient Occupancy Tax table can be viewed here:

http://Services.SantaBarbaraCA.gov/Files/Finance/Transient_Occupancy_Tax_July_2013.pdf

Previous Revenue News releases can be viewed here:

http://www.santabarbaraca.gov/gov/depts/finance/budget/revenue_news.asp

Contact: Genie Wilson, Treasury Manager

Phone: (805) 564-5528

Email: GWilson@SantaBarbaraCA.gov