Sales and Transient Occupancy tax revenues coming in below budget expectations

SANTA BARBARA, Calif. – Official results for the City of Santa Barbara's sales tax and transient occupancy tax have been released with both revenue sources coming in below budget expectations.

The City of Santa Barbara shared that $7.8 million in sales tax revenue was collected for the final quarter of the City's fiscal year which ended on June 30, 2024.

Total sales tax revenues for the entire Fiscal Year 2024 were about four percent below the City's sales tax revenue budget of $30.6 million detailed the City of Santa Barbara in a press release Monday.

Santa Barbara also levies a tax on guests staying in area commercial lodging establishments, such as hotels and motels, for less than 30 days called the Transient Occupancy Tax.

In July of 2024, the first month of the City's fiscal year, $4 million was collected in Transient Occupancy Taxes shared the City of Santa Barbara.

Of that $4 million in collected Transient Occupancy Taxes (TOT), $3.6 million came from hotels and $400,000 came from short-term rentals detailed the City of Santa Barbara.

Year to date, that collected total is three percent below budget stated the City of Santa Barbara.

For more information, visit the City of Santa Barbara's Budget and Reporting website.