The City of Santa Barbara received $1,233,255 in transient occupancy tax (TOT) for the month of March, a 16.5 percent increase over March 2013.
This strong growth rate is particularly notable because March 2014 contained one less weekend night than March 2013. The continued warm, sunny weather likely led to the higher growth.
Through the first nine months of the fiscal year, the city has collected more than $12.16 million in TOT revenues, 14.7 percent ahead of last year through the same period.
With three months of collections remaining in this fiscal year, revenues are tracking ahead of the 10.4 percent growth rate needed to meet the adopted budget of $16,202,000.
Click here for additional information on transient occupancy tax results.
— Genie Wilson is the treasury manager for the City of Santa Barbara.