SANTA BARBARA — The city of Santa Barbara received $7.5 million in sales tax revenue during the quarter ending Sept. 30, 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, according to the city.
The September quarter is the first quarter of the city’s fiscal year. For fiscal year 2023, the city’s sales tax revenue budget is $26.6 million.
The city collected $2.2 million in transient occupancy taxes for November. TOT revenues that month 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 city’s TOT tax rate is 12%, of which 10% goes to the city’s General Fund and the remaining 2% goes to the Creeks/Clean Water Fund.
— Neil Hartstein