The City of Santa Barbara received $7.5 million in sales tax revenue during the quarter that ended September 30, 2022, which is 3.9% above the same quarter last year and 8.4% above budget. This result reflects the effects of solid post-pandemic economic activity and higher inflation.
The September quarter is the first quarter of the City’s fiscal year. For the fiscal year 2023, the City’s sales tax revenue budget is $26.6 million.
Transient Occupancy Tax Results for the City of Santa Barbara – Month Ended November 30, 2022
The City of Santa Barbara collected $2.2 million in transient occupancy taxes (TOT) for November 2022. TOT revenues in November 2022 were about 12.1% above the monthly budget, mainly due to higher average daily rates and strong seasonal demand for rooms.
The City has collected $15.8 million through November, the fifth month in the City’s fiscal year. The City’s adopted TOT budget for all funds is $28.3 million, of which $23.6 million is budgeted in the General Fund.
The Transient Occupancy Tax table can be viewed on the attachment. [Link coming when the city posts it.] The City’s TOT tax rate is 12%. 10% goes to the City’s General Fund and the remaining 2% goes to the Creeks/Clean Water Fund.
