Monday, May 21 , 2018, 4:14 am | Fair 52º

 
 
 
 

Business

Santa Barbara’s Transient Occupancy Tax Continues Growth in October

Santa Barbara lodging establishments collected and remitted $1.28 million in transient occupancy tax during October, which is 6.2 percent higher than October of last year.

The number of available rooms declined in October due to the impact of major renovations of two major hotels, which resulted in a reduction in TOT collections for the month.

These long-term renovation projects are expected to impact TOT revenues for more than a year.

More than $6.9 million in TOT has been collected in the first four months of the fiscal year. Year-to-date collections are 10.8 percent ahead of last year and thus far are trending with the adopted growth rate of 10.2 percent. The fiscal year 2014 TOT budget is $16,202,000.

Click here to view the transient occupancy tax table.

— Genie Wilson is the treasury manager for the City of Santa Barbara.

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