Transient Occupancy Tax
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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 of 2018, Charlottesville's tax rate is set to 7%.[1] In December 2018, city staff estimated that a tax increase of one point would yield $914,260 in revenue.[2]
References
- ↑ 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
- ↑ Web. Increasing Tax Revenues, December 6, 2018, retrieved 2018-12-19.