search

The Real Deal Logo

Trending

Bushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsSpec developer sells waterfront Bay Harbor Islands mansion for record $22MSpec developer sells waterfront Bay Harbor Islands mansion for record $22MLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
South Florida

Hotel taxes drop 24 percent in February

Sign Up for the undefined Newsletter

Hotel taxes in Miami-Dade County dropped by 24 percent in February, a steeper decline than January’s 17 percent. The fall in tax revenue was due to reduced rates and decreased business travel amid the recession, industry experts said. Miami-Dade’s hotel taxes over the next 40 years are expected to fund 90 percent of the county’s construction debt for the new Marlins stadium. County Manager George Burgess must decide by July 1 whether the tax revenue drop means hotel taxes will no longer be able to fund the stadium construction.