FY 26 Budget Q&A #015: Can you tell me the amount of money that an increase in the Hotel Occupancy Tax would bring in?
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Question: Can you tell me the amount of money that an increase in the Hotel Occupancy Tax would bring in? (Councilman Chapman)
Response: Our current tax rate is 6.5% plus $1.25 per room per night. The rate-based portion of our revenue comprises approximately 90.3% of this category, or approximately $13.45 million. Each 1% change in the Transient Lodging tax rate is equivalent to approximately $2.07 million in revenue.
