87.2 F
Ocala
Tuesday, July 23, 2024

Marion County on pace to make more money from tourism tax than in record-setting 2023

Marion County is earning slightly more money from its tourism development tax this year than it did during the last fiscal year, when it generated nearly $5.37 million from the visitors’ tax.

The county’s tourism development tax revenue will be one of the topics of discussion during Thursday’s regular meeting of the Marion County Tourist Development Conference Room, which takes place at 9 a.m.

According to the most recent data, the county has earned $3,864,457.81 through May 2024 from its tourism tax. That equates to just over $57,000 more than the county’s total through May 2023 ($3,807,454.11)

Last month, the county generated approximately $498,796.44 from the tourism tax revenue, which was around $73,000 more than it generated last May.

In April, the county earned $697,599.40 in revenue from the tourism tax, a new, single-month record.

At its current pace, Marion County will break its tourism development tax revenue record for the fourth consecutive year. Last fiscal year, the county earned $5,368,965.76 from the tax, which was an increase of over $526,000 in revenue over the previous fiscal year.

According to county officials, the tax is collected from stays in short-term accommodations, less than six months in duration, within Marion County.