Miami Beach Resort Tax Receipts Hit Historic Monthly High

Susan Askew
Susan Askew

Miami Beach Resort Tax Receipts Hit Historic Monthly High:

YTD revenue ahead of budget despite hurricane

Correction: These numbers, while reported to be from April by the City, are actually for March.

Miami Beach collected nearly $11 million in resort tax revenue in March a 13% increase over last year and the highest monthly haul in the City’s history.
 
Total resort tax collected was $10,913,987 or $1,255,970 more than March last year. Food and beverage (F&B) collections were up 7.1% while room rental collections were up 16.1%.
 
Despite a huge drop-off in collections in October due to Hurricane Irma – F&B was down 26.5% while room rentals were down 19.2% in the first month of the fiscal year as compared to the year before – both are now ahead of year-to-date budget. Food and beverage tax collections are 5.4% ahead of budget while room rental tax collections are 8.7% higher. Overall, resort tax collections are 6.5% higher than budgeted.
 
 
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