Difference between revisions of "Transient Occupancy Tax"

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The Code of Virginia contains two separate provisions granting localities to impose the tax. [[Albemarle County]] is governed by § 58.1-3819, which requires it to remit a portion of proceeds to the [[Charlottesville Albemarle Convention and Visitors Bureau]]. [[Charlottesville]] is governed by the less-restrictive § 58.1-3840.  
 
The Code of Virginia contains two separate provisions granting localities to impose the tax. [[Albemarle County]] is governed by § 58.1-3819, which requires it to remit a portion of proceeds to the [[Charlottesville Albemarle Convention and Visitors Bureau]]. [[Charlottesville]] is governed by the less-restrictive § 58.1-3840.  
  
As part of the FY2020 budget, a lodging tax increase of 1% was proposed, raising the lodging tax rate to 8%. The City estimated that this change will bring in an additional $816,969 in FY2020 revenue. If approved, this ordinance would take effect on [[July 1]], [[2019]].<ref>{{minutes-citycouncil|when=March 18, 2019, page 181; modified Monday, April 01, 2019, 10:07:40 AM; accessed April 3, 2019 |newid=64867}}</ref>
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As part of the FY2020 budget, a lodging tax increase of 1% was proposed, raising the lodging tax rate to 8%. The City estimated that this change will bring in an additional $816,969 in FY2020 revenue. The increase was approved on [[April 1]], [[2019]]<ref>{{Cite-progress|url=https://www.dailyprogress.com/news/local/city/as-council-advances-budget-some-residents-want-more-done-for/article_30e7573a-54e4-11e9-b32d-7b030e468dcf.html|title=As council advances budget, some residents want more done for housing|author=Nolan Stout|publishdate=April 1, 2019|accessdate=2019-04-03}}</ref> and will take effect on [[July 1]], [[2019]].<ref>{{minutes-citycouncil|when=March 18, 2019, page 181; modified Monday, April 01, 2019, 10:07:40 AM; accessed April 3, 2019 |newid=64867}}</ref>
  
 
As of 2018, Charlottesville's tax rate is set to 7%.<ref>{{Municode|article=ARTICLE IX. - TRANSIENT OCCUPANCY TAX, Sec. 30-253. - Levied.|url=https://library.municode.com/va/charlottesville/codes/code_of_ordinances?nodeId=CO_CH30TA_ARTIXTROCTA_S30-253LE|accessdate=2018-12-19}}</ref> In December 2018, city staff estimated that a tax increase of one point would yield $914,260 in revenue.<ref>{{Cite web|url=https://twitter.com/amihatt/status/1070819260224675842|title=FY2020 Budget Development: Increasing Tax Revenues|author=Emily Hays|publishdate=December 6, 2018|publisher=Twitter|archive-url=|archive-date=|dead-url=|accessdate=2018-12-19}}</ref>
 
As of 2018, Charlottesville's tax rate is set to 7%.<ref>{{Municode|article=ARTICLE IX. - TRANSIENT OCCUPANCY TAX, Sec. 30-253. - Levied.|url=https://library.municode.com/va/charlottesville/codes/code_of_ordinances?nodeId=CO_CH30TA_ARTIXTROCTA_S30-253LE|accessdate=2018-12-19}}</ref> In December 2018, city staff estimated that a tax increase of one point would yield $914,260 in revenue.<ref>{{Cite web|url=https://twitter.com/amihatt/status/1070819260224675842|title=FY2020 Budget Development: Increasing Tax Revenues|author=Emily Hays|publishdate=December 6, 2018|publisher=Twitter|archive-url=|archive-date=|dead-url=|accessdate=2018-12-19}}</ref>

Latest revision as of 15:37, 3 April 2019

The Transient Occupancy Tax, also known as the lodging tax, is a tax imposed on "hotels, motels, boarding houses, travel campgrounds, and other facilities offering guest rooms rented out for continuous occupancy for fewer than 30 consecutive days."

The Code of Virginia contains two separate provisions granting localities to impose the tax. Albemarle County is governed by § 58.1-3819, which requires it to remit a portion of proceeds to the Charlottesville Albemarle Convention and Visitors Bureau. Charlottesville is governed by the less-restrictive § 58.1-3840.

As part of the FY2020 budget, a lodging tax increase of 1% was proposed, raising the lodging tax rate to 8%. The City estimated that this change will bring in an additional $816,969 in FY2020 revenue. The increase was approved on April 1, 2019[1] and will take effect on July 1, 2019.[2]

As of 2018, Charlottesville's tax rate is set to 7%.[3] In December 2018, city staff estimated that a tax increase of one point would yield $914,260 in revenue.[4]

References

  1. Web. As council advances budget, some residents want more done for housing, Nolan Stout, Daily Progress, World Media Enterprises, April 1, 2019, retrieved 2019-04-03.
  2. Web. Charlottesville City Council meeting minutes, .pdf, Council Chambers, City of Charlottesville, March 18, 2019, page 181; modified Monday, April 01, 2019, 10:07:40 AM; accessed April 3, 2019.
  3. Charlottesville City Code, ARTICLE IX. - TRANSIENT OCCUPANCY TAX, Sec. 30-253. - Levied.. Available online via municode.com, Municipal Code Corporation, Tallahassee, Florida. Accessed 2018-12-19
  4. Web. FY2020 Budget Development: Increasing Tax Revenues, Emily Hays, Twitter, December 6, 2018, retrieved 2018-12-19.