The Town has received the 4th quarter payment for the room occupancy tax and the meals tax. The 4th quarter payment is for the months of February, March and April. The Finance Department was pleasantly surprised by the numbers, the recent harsh winter was expected to hit our room and meals tax numbers. While the meals tax is down for the quarter it is not down as much as was expected.
Room Tax $106,894 up 11%
The room tax payment of $106,894 is an increase of 11.0% over the $96,341 we received in June 2014. For fiscal year 2015 we received $1,980,268 which is an increase of $128,382 or 6.9% from last year’s total of $1,851,886.
Meals Tax $35,808 down 2.7%
The meals tax payment of $35,808 is a decrease of 2.7% over the $36,805 we received in June 2014. For fiscal year 2015 we received $553,326 which is an increase of $27,289 or 5.2% from last year’s total of $526,037.
For a detailed history of the room occupancy tax and the meals tax please see the Finance Documents page.