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SALES TAX REVENUES <br />$28,000,000 <br />$26,000,000 <br />$24,000,000 <br />$22,000,000 <br />$20,000,000 <br />$18,000,000 <br />$16,000,000 <br />$14,000,000 <br />$12,000,000 <br />$10,0001000 <br />19/20 20/21 21/22 22/23 23/24 24/25 25/26' 26/27' <br />* Projected <br />Hotel/Motel Tax <br />The City currently has fourteen hotels/motels with a total of about 2,000 rooms. The City <br />imposes a Transient Occupancy Tax (Hotel/Motel Tax) of 8.0 percent on room rates for stays <br />of 30 days or less. The tax was last raised in 1983, from 5.0 percent to 8.0 percent. The <br />proceeds from this tax currently represent approximately 3.4 percent of the total General <br />Fund revenue. <br />Revenues in this category depends considerably on business travel and therefore, <br />hotel/motel tax revenues were significantly impacted by the COVID-19 pandemic. <br />Hotel/motel tax revenues decreased to $4.8 million in FY 2019/20 and $2.0 million in FY <br />2020/21 from $6.5 million in FY 2018/19. There have been improvements post -pandemic, but <br />revenues are still significantly lower than the pre -pandemic level. FY 2025/26 and FY <br />2026/27 hotel/motel tax revenues are projected at $5.5 million and $5.6 million, respectively. <br />While two new hotels were opened during the 2023-25 budget cycle, one hotel was closed. <br />HOTEL/MOTEL TAX <br />$6,000,000 <br />55,0og0oo <br />$4,000,000 <br />$3,000,000 <br />$2,000,000 <br />$1,000,000 <br />$0 <br />19/20 20/21 21/22 22/23 23/24 24/25 25/26' 26/27' <br />* Projected <br />Business License Tax <br />The City imposes a license tax on businesses that conduct activities in the City, whether <br />have a physical location here or not. The license tax is based on gross receipts at a rate of 30 <br />