Saturday, October 1 , 2016, 8:14 am | Fair 59º

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Business

Santa Barbara Transient Occupancy Tax Up 7.2% in October

Santa Barbara’s transient occupancy tax (TOT) continues its strong performance in fiscal year 2013, which runs from July 1 through June 30.

The October results came in 7.2 percent higher than the same month last year, and with one fewer weekend day.

The strong growth trend is encouraging since October marks the beginning of the off-season travel months, when fewer travelers visit Santa Barbara and TOT collections are typically lower than in the summer months.

More than $6.2 million in TOT has been collected this fiscal year, with overall growth of 6.8 percent. Through October, TOT is about $43,700 ahead of budget.

The fiscal year 2013 TOT budget is $14,489,200 and factors in an estimated growth rate of 6.1 percent over last year’s collections. TOT in fiscal year 2012 was $13.7 million and marked the highest year on record.

Click here to view the Transient Occupancy Tax table.

— Jill Taura is treasury manager for the City of Santa Barbara.

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