2 days Ago By Stephen Hudak
Shrugging off record high temperatures, tourist-tax collections soared in May, too, rebounding from a year ago and setting a new record for the month. The Tourist Development Tax, a 6% surcharge on hotel rooms and other short-term lodging like Airbnb rentals, brought in about $28.4 million in May, about $200,000 better than the previous best for the month, set in 2022 during a streak of record highs that lasted over a year.
Despite the record for the month, May’s figures were lower than April collections by about $1.9 million and about $12 million less than the startling total of $40 million in March — the most ever in a month in the history of the tax, enacted by voter referendum in 1978. Through the first eight months of fiscal year 2023-24, the tax, also known as TDT, has pulled in $253 million, exceeding budgeted projections by $33 million but trailing last year’s record-shattering pace by about $1.
1 million, Comptroller Phil Diamond said. The tax generated $359 million in fiscal year 2022-23. Diamond’s office tracks TDT collections which is regarded as a measure of the tourism and hospitality industry’s health.
This is a developing story. Check back for updates. shudak@orlandosentinel.
com.
