Tourist Development Tax collection For March 2024

[Jen]

Tourist Development Tax collection showed a 15.14 percent increase in South Walton for March 2024 compared with the previous year. Total collections for March 2024 in South Walton were $5,635,617.95. FY 24 Year-to-date (Oct - March) South Walton collections are up 5.01%

The Tourist Development Tax, or bed tax, is a 5 percent tax collected on hotels, condos, and other short-term rentals south of Choctawhatchee Bay. It is the best way to gauge visitation and demand trends in South Walton. The revenue supports tourism marketing and beach operations efforts, including cleaning and maintaining beaches, lifeguards, destination improvements, and preservation initiatives.

Tourist Development Tax collection on short-term rental accommodations north of the Choctawhatchee Bay totaled $31,912.84 for March 2024. Collections for March represent a 23.19 percent decrease, or $6,423.74, compared with the previous year. FY24 Year-to-date (Oct - March) North Walton collections are down 13.14%.

The Tourist Development Tax, or bed tax, for the reporting period is a 3 percent tax collected on hotels, condos, and other short-term rentals north of the Choctawhatchee Bay. It is the best way to gauge visitation and demand trends.

As of May 1, the total number of active rental units in both south and north Walton is 20,257.

 

[grenville]

Appreciate the active rental units as of May 1! Thank you for sharing that.

 

[Matt J]

I'm predicting that April and May will be down slightly.

 

[UpNorth]

Do these get released anymore?

Havent seen one in months

 

[Matt J]

Do these get released anymore?

Havent seen one in months

It's always been sporadic. If you go to visitSouthWalton.com you can search "bed tax reporting" and it'll find the press releases, but even those don't seem complete.

The County Clerks office should be able to help you as they actually process the bed tax collection.

 

[UpNorth]

Thanks. Neat to follow and I’m optimistic about acquiring some short term rentals once the pain starts kicking in for all the 2021/22 buyers. These sorta reports are nice markers for that.

 

[Matt J]

Thanks. Neat to follow and I’m optimistic about acquiring some short term rentals once the pain starts kicking in for all the 2021/22 buyers. These sorta reports are nice markers for that.

Don't get too excited. The short sales started a year ago and the foreclosures are slow moving.

Fun fact only 68 personal bankruptcies in the District of Northwest Florida so far this year.

Making people put something into their speculative investments seems to be having the intended effect of them keeping up with it opposed to leaving the keys on the counter and walking away.