Local Tax Issues
Orlando Tourism Tax Intake Continues to Rise, Proves Robust Tourism
Orange County, Florida’s tourism tax intake is continuing to rise month-over-month compared to last year, proving that the region is experiencing robust tourism growth following concerns during the COVID-19 pandemic.
According to a recent report from Orlando Business Journal, the tourist development tax collection total for December 2022 increased 10.2% to $31.22 million from $28.33 million for the same month in 2021.
The tax is collected from hotel, motel, and short-term rental stays, such as AirBnb bookings. Therefore, the metric is seen as a good indicator of how well Central Florida is doing from a tourism standpoint.
Per OBJ, funds collected from the tax are used to fund national marketing campaigns, improvements to the Orange County Convention Center, and other tourism-generating expenses.
In an official press release pertaining to December’s tourist development tax, Orange County Comptroller Phil Diamond shared that “December TDT performance demonstrated another solid month, with a healthy hotel demand (99% of December 2019) and an Average Daily Rate of $163.”
Orange County, Florida is one of the most popular tourist destinations in the United States, as it is home to numerous theme park properties including Walt Disney World Resort, Universal Orlando Resort, SeaWorld Orlando, and LEGOLAND Florida.
A recent USA Today report indicated that Orlando offers the highest tourism draw of any U.S. city, in fact.
"It was a fightback year for cities across the country in 2022. Destinations like Orlando, Miami, Chicago and Las Vegas are back stronger than ever before thanks to the relaxation of pandemic restrictions and a strong rebound of consumer confidence,” said a statement issued by World Travel & Tourism Council President and CEO Julia Simpson.
Tax intake for January 2023 will be reported in March, and February numbers will be available in April.
Are you glad to see tourism thriving in Central Florida post-pandemic?
Featured Image Credit: Glow Images/Getty Images
Sonu Shukla is a CPA, accountant, and tax preparer based in Orlando, FL. Sonu Shukla can assist you with your tax preparation and planning needs. Sonu is more than just another accountant in Orlando, Florida; he is a small business owner himself. It is a position in life that grants him the perspective and insight to emphasize with his clients, bringing them the best service possible. A Certified Public Accountant and a Certified Financial Planner, Sonu possesses the skills, education and experience to demonstrate unerring business acumen and passionately planned financial strategies. Being proactive is key for Sonu, tailoring highly efficient tax plans for his small business clients, all in a one on one environment where he and the client can bounce ideas around until every detail is worked out.
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