The Real Deal Miami

Hotel tax revenue drop shrinks

September 10, 2009 02:01PM

Hotel tax revenue declined in July in South Florida, but regional revenues began to stabilize. Taxes charged to hotel guests dropped 4 percent in Broward to $2.2 million and 10 percent in Miami-Dade to $4.2 million, the lowest rate of decline since last autumn. Hotel taxes surged 22 percent in the Keys to $1.5 million, though that is due entirely to Monroe County boosting the tax rate by 20 percent in June. Hotel tax revenue will be used in the financing of the Florida Marlins baseball stadium in Miami, as well as affordable housing in Monroe County and statewide tourism campaigns.