Transient occupancy tax (TOT), the City of Santa Barbara’s 12 percent bed tax, came in strong during August, growing 7.5 percent 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 a little more than $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 percent, slightly below the 6.1 percent growth forecast contained in the adopted budget. The fiscal year 2013 TOT budget is $14,489,200.
Click here to view the transient occupancy tax table.
— Jill Taura is the treasury manager for the City of Santa Barbara.