Tourist Development Tax collection for September 2023

[Jen]

Tourist Development Tax collection showed a 3.53 percent decrease in South Walton for September 2023 compared with the previous year. Total collections for September 2023 in South Walton were $4,514,094.11.

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 $19,000.03 for September 2023. Collections for September represent a 3.22 percent increase, or $592.45, compared with the previous year.

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.

 

[Jen]

Walton County’s Tourist Development Tax collections finished strong with $60,284,009.25 in total revenue for fiscal year 2023. Of this, the South Walton taxing district collected $60,016,660.35 and the North Walton taxing district accounted for the remaining $267,348.90.

“This is an incredible number, and it allows us to do some really great things to benefit our community — including increased parking, expanded access to our beaches and other projects that support our diverse events and cultural offerings,” said Tourism Director Matt Algarin.

This is the second year in a row TDT revenue has exceeded $60 million. In FY22, the county’s short-term rental accommodations generated $62,955,782.20 in collections, which is the largest total ever collected.

Comparing fiscal year totals, South Walton's 2 percent TDT collections were $1,077,958.52, or 4.3 percent, lower than FY22 collections. North Walton's 2 percent TDT collections were $5,511.38, or 2.10 percent, higher than FY22 collections (two percent is used for an apples-to-apples comparison, eliminating tax rate changes; actual bed tax collected south of the Choctawhatchee Bay is 5 percent and north of the Bay is 3 percent).

However, FY 2022, and even FY 2021, was an unprecedented travel period leading to inflated collections resulting from pent-up travel demand and a variety of other factors.

This year’s TDT revenue is even more exceptional when compared to pre-pandemic years — using 2019 as a benchmark for a typical collection year — and reflects a sustained demand for visiting our destination.

In fact, TDT collections in South Walton increased by more than 116 percent from FY19 to FY23, according to comparison information from the Walton County Clerk’s office.

While the numbers are impressive and have allowed the tourism department to further invest in the community, sustaining this level of TDT revenue is not a given.

Domestic travel post-COVID is already at 2019 levels, with international close-behind. Travelers are expanding their search for unique and compelling trips, and destinations — both far and near — are trying to capture their attention.

Still, the county’s TDT numbers remain strong, and the tourism department will continue to work as hard as it can to ensure consistent visitation that supports our tourism economy — making it the No. 1 economic driver for the county, creating jobs, and lowering resident’s taxes.

 

[Matt J]

Ever percent decrease in TDT revenue generates over a hundred new for sale signs.

 

[SUP Boarder]

...and we don't need "expanded access to our beaches", we need more beach.

 

[Matt J]

...and we don't need "expanded access to our beaches", we need more beach.

That's code for pay exorbitant prices for parcels. Makes you wonder what the real goal is behind private beaches; greed like we've said all along.