Page 75 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Transient Occupancy Tax - Collection Agreements
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 3,678 4,936 472 1,930 1,244 (686) 1,244 2,180
AUGUST 3,820 5,165 11,229 1,890 1,973 83 1,973 2,500
SEPTEMBER 3,395 4,659 113 1,726 2,391 665 2,391 2,230
OCTOBER 3,174 4,181 9,951 2,419 2,150 (269) 2,150 2,060
NOVEMBER 3,323 4,573 4,590 3,777 1,894 (1,883) 1,894 2,190
DECEMBER 2,889 4,195 3,390 3,725 15 (3,710) 15 2,290
JANUARY 2,829 4,055 33 3,871 951 (2,920) 951 2,230
FEBRUARY 4,506 5,623 8,015 5,128 2,661 (2,467) 2,661 3,370
MARCH 4,217 5,446 4,327 4,697 134 (4,563) 134 3,190
APRIL 4,695 6,419 144 3,392 3,040 4,120
MAY 4,579 5,680 47 2,087 1,890 4,190
JUNE 5,001 5,942 79 2,183 2,016 4,720
TOTAL $ 46,106 $ 60,873 $ 42,390 $ 36,825 $ 20,360 $ 35,270
% Change 55.9% 32.0% -30.4% -13.1% -52.0% 73.2%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 3,678 4,936 472 1,930 1,244 (686) 1,244 2,180
AUGUST 7,498 10,101 11,701 3,820 3,217 (603) 3,217 4,680
SEPTEMBER 10,893 14,760 11,814 5,546 5,608 62 5,608 6,910
OCTOBER 14,067 18,940 21,765 7,965 7,758 (207) 7,758 8,970
NOVEMBER 17,390 23,513 26,355 11,742 9,652 (2,090) 9,652 11,160
DECEMBER 20,279 27,708 29,745 15,467 9,668 (5,799) 9,668 13,450
JANUARY 23,108 31,763 29,778 19,338 10,619 (8,719) 10,619 15,680
FEBRUARY 27,615 37,387 37,793 24,466 13,280 (11,186) 13,280 19,050
MARCH 31,832 42,833 42,120 29,163 13,414 (15,749) 13,414 22,240
APRIL 36,526 49,251 42,264 32,555 16,454 26,360
MAY 41,105 54,931 42,311 34,642 18,344 30,550
JUNE 46,106 60,873 42,390 36,825 20,360 35,270

The transient occupancy tax is levied on lodging rented for 30 days or less to be paid by the occupant (guest).
The operator (host) is responsible for collecting and remitting the TOT to the City. Hosts renting out private rooms
or residences are not exempted from collecting the TOT from their guests. The majority of this revenue is from
collection agreements with online platforms such as Airbnb and VRBO.
2020-21 receipts to date are well below the 30 percent reduction assumed with the full implementation of the
City’s home-sharing policy. The change is assumed to be entirely pandemic driven, which is reflected in credits
taken against prepaid taxes for cancelled reservations, resulting in the variation seen in monthly receipts. As
such, 2021-22 assumes similar growth as TOT from hotels.

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