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Transient occupancy tax collection ahead of budget; June posts slightly above 2024
Summary
Staff told the board that fiscal‑year‑to‑date transient occupancy tax (TOT) receipts are about $29.5 million — roughly 9% above the budget adopted last year and 5.6% over fiscal 2024 actuals — and June will report about one percentage point higher than June 2024.
Dave Peterson presented the transient occupancy tax (TOT) actual versus forecast report at the board’s Aug. 11 meeting and said preliminary June numbers will be about one percentage point higher than June 2024.
Peterson said the full fiscal year should total approximately $29,500,000, which he described as just under 9% ahead of the budget adopted a year earlier and about 5.6% above fiscal 2024 actuals. He attributed the stronger performance to lodging properties keeping rates steady and to regional demand patterns.
Peterson told the board this would be the last report covering fiscal 2025, with the next meeting shifting to the new fiscal year reporting cadence for July. He said staff would provide pre‑audit figures for fiscal 2025 lodging numbers at next month’s meeting.
Board members did not take formal action on the report during the meeting; Peterson invited questions but none were raised.
