PETER CRANIS: June Tourist Development Tax Comes in at Record-Setting $2.226 Million
By Peter Cranis, Space Coast Office of Tourism Executive Director // August 5, 2023
CRANIS: Over the last 12 months, we have collected $25.876 million
PETER CRANIS: Year to date, we are at $20.188 million which is 14.4% ahead of last year’s previous high of $17.643 million.
BREVARD COUNTY, FLORIDA – The June Tourist Development Tax (TDT) has come in at a surprising $2.226 million – up an impressive 8.8% from last year’s $2.045 million and 18.9% over the June 2021 number of $1.872 million.
It is also the ninth best month in TDT collection history. Year to date, we are at $20.188 million which is 14.4% ahead of last year’s previous high of $17.643 million.
Over the last 12 months, we have collected $25.876 million. This picks up the streak that ended last month with 25 of 26 “best month for that month” records and is a strong rebound from a May that was down 1.7%, the first down month since February, 2021.
Looking at TDT by type, hotels represented 63% of the total for the month (down from 68% last month) and vacation rentals were at 36% of TDT (up from 31% last month).
In terms of hotel/motel revenue by city, Cocoa Beach and Cape Canaveral were at 34% and Melbourne and the Beaches were at 28% as a percentage of the total (similar to last month).
Looking ahead to July, we believe we are tracking to be right on pace with last year’s high of $2.28 million so it will come down to the wire to see if we can beat that.
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– Peter Cranis, Space Coast Office of Tourism Executive Director