Revenue in January nearly 13% lower than amount turned over to Tax Collector’s Office in January 2024
In January, Sarasota County’s Tourist Development Tax — or, “bed tax” — revenue took another fall, compared to the funds the Sarasota Tax Collector’s Office received from hosts of accommodations for January 2024, the latest reports show.
This January, the total was $4,887,077.89, which is lower by nearly 13% — $720,742.23 — compared to the $5,607,820.12 collected in January 2024, the new data show.
Altogether, the bed tax revenue turned over to Tax Collector Mike Moran and his staff since the Oct. 1, 2024 start of this fiscal year is down $2,039,097.11, the reports note. The initial data for January 2024 put the total fiscal year revenue at that point at $14,345,443.85. Through January of this year, the figure is $12,656,442.29. Thus, the new tally is almost 12% lower than the total for the first four months of the 2024 fiscal year.
During a presentation last month to the county’s Tourist Development Council, Chief Deputy Tax Collector Sherri Smith emphasized that many accommodations still have not been repaired since the 2024 storm season, which has been a big factor in the lower Tourist Development Tax (TDT) collections for this fiscal year.
The 6% tax is charged on rentals of accommodations for six months or less time. Not only are hotel and motel room nights counted as places where tourists stay, but also campgrounds and homes rented through online platforms. The funds are used for a wide array of purposes, including beach maintenance and renourishment and upkeep of the two Major League Baseball Spring Training stadiums.
In fact, through January of this fiscal year, the Tax Collector’s Office had taken in $1,999,190.24 just from Airbnb hosts. However, that is down about 14.7%, compared to the figure through January 2024: $2,342,771.25.
Altogether, for the first four months of this fiscal year, the reports show, rentals of accommodations through online platforms — including those associated with TripAdvisor and HomeAway.com and all of their subsidiaries — accounted for 22.62% of the TDT revenue collected. For the same period in the 2024 fiscal year, the figure was 23.56%.
Of all the online rental platforms with which the county has agreements, only Airbnb allows its hosts’ revenue total to be reported, staff of the Tax Collector’s Office has explained.
In a related update, accommodations in the city of Sarasota were the source of 27.81% of the bed tax funds collected since Oct. 1, 2024, the new reports show. Traditionally, the city and Siesta Key vie to see which will earn the “title” of taking in the most TDT revenue each year. Siesta “won” for the 2024 fiscal year. However, with so many Siesta condominiums and businesses having been affected by Hurricanes Helene and Milton last fall, the figure for Siesta hosts through January is only 13.71%.
In comparison, accommodations in the other unincorporated areas of the county have taken in 18.08% of the money, the reports note.
Through January 2024, the City of Sarasota accounted for 25.37% of the revenue, with Siesta close behind at 23%. County accommodations had contributed 13.65% of the funds.
Among other information provided by the latest reports, the month-over-month drops for November and December 2024 have been reduced.
The previous data showed that the November 2024 revenue was down $289,745.67, compared to the figure for November 2023. The new reports show that difference has narrowed to $286,837.48.
For December 2024, the drop from the total collected in December 2023 was $222,352.42. That has improved to $201,204.60.
The Tax Collector’s Office senior staff long has pointed out that audits and other enforcement actions can change the figures from month to month. Members of the staff constantly are checking all sorts of sources — and relying on tips from the public — to ensure that every penny of the bed tax owed to the county has been collected each month, Deputy Chief Tax Collector Smith told the Tourist Development Council members in February.