Hotel Bed Tax Revenue Remains Strong for Santa Barbara
John Palminteri
SANTA BARBARA, Calif. (KEYT) – The latest hotel bed tax figures are out for Santa Barbara and they are up.
The City Finance Department says the bed tax, or transient occupancy tax (TOT), was above the projection of $2 million by about 10 percent. For the fiscal year dating back to July 2024, the fees have exceeded expectations in every month but one.
The TOT is a key component to the city’s annual general revenue. This uptick comes at a time when there are serious funding concerns across the board due to a variety of changes in the financial picture including cuts from the federal and state governments.
The highest income month in the fiscal year so far has been January, exceed almost 34 percent.
The lowest was September of 2024 which was down about three percent.
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