Interesting details coming out from the latest Transient Occupancy Tax (TOT) or Bed Tax that funds the Town’s Unrestricted General Fund, the main source of revenue for Yountville.
Total TOT revenue for June 2021 was $898,634, one of the highest months ever collected in Yountville! Of course, the entire year is down and not by what was fully expected. Occupancy for June 2021 was 75%, and in 2019 June occupancy was 72%. June represents 100% of the fiscal year, and TOT revenues collected for the fiscal year total $4,807,007. This exceeds the adjusted $4,250,000 budget by $557,007 or 13%. The $4,807,007 fiscal year amount represents $443,000 below the original $5,250,000 budget.
The Fiscal year 2018/2019 saw TOT revenue of $7,527,368. Can the Town attain that number again? Possibly, and if not, we look to be headed well above the $5,668,824 of 2019/2020. The Town, being ever so cautious, has budgeted TOT revenues $5,250,000 for 2021/2022.
Check out all the budget details. Now online! Read the TOT report.