Santa Barbara releases Transient Occupancy Tax results for March

SANTA BARBARA, Calif. — The Transient Occupancy Tax report for March 2024, indicates $2.3 million was collected in the ninth month of the city's fiscal year.

According to the March report, TOT is a tax on "transient" guests staying in any hotel, inn, motel, or other commercial lodging establishment for a period of less than 30 days.

The report says the city has collected $23.3 million in overall TOT with approximately $21.4 million came from hotels and $1.9 million from short-term rentals.

In the year to date (FY 2024), total TOT revenues came at 4.2% below budget.

According to the report, The city's adopted TOT budget for all funds is $33 million (FY 2024 Budget). $27.5 million is budgeted in the General Fund.

Since the adoption of Measure B, 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 and Clean Water Fund.