Tax Results Up for the City of Santa Barbara
By the City of Santa Barbara
Sales Tax Results for the City of Santa Barbara – Quarter Ended June 30, 2022
The City of Santa Barbara received $7.4 million in sales tax revenue during the quarter ended June 30, 2022, which is 0.6% above the same quarter last year. This result reflects the effects of economic activity stabilizing around pre-pandemic levels and higher inflation.
The June quarter is the last quarter of the City’s fiscal year. For fiscal year 2022, the City’s sales tax revenues totaled $28.5 million and were 22.7% above the revenue budget of $23.2 million.
The Sales Tax table can be viewed on the attachment.
Transient Occupancy Tax Results for the City of Santa Barbara – Month Ended August 31, 2022
The City of Santa Barbara collected $3.59 million in transient occupancy taxes (TOT) for August 2022. TOT revenues in August 2022 were about 19.4% above the monthly budget, mainly due to higher average daily rates and strong seasonal demand for rooms.
The City has collected $7.56 million through August, the second 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. 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.