December collections of tourist taxes dropped from a year ago, continuing a nine-month downward trend.
Collections totaled $29.8 million for the month, about 4% or $1.4 million lower than December 2022.
December was the eighth month of the past nine in which monthly revenues dropped year-over-year, said Comptroller Phil Diamond, whose office tracks the county’s 6% surcharge on hotel rooms and other short-term rentals.
Despite the trend, revenues have been strong, averaging more than $28 million a month over that time span.
If collections continue at the same stride over the next nine months, the county would rake in $336.5 million, the second-highest total in the history of the tax, out-performing Diamond’s forecast of a 7.5% revenue drop in fiscal year 2023-24.
Collections are down about 5% from last year’s record pace.
Diamond said he would be happy to be wrong as it would mean a stronger local economy.
“But where it goes from here, nobody knows,” he said.
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