The 2nd quarter room occupancy and meals tax have been received from the Mass. Dept. of Revenue.
Room Occupancy $870,207
The second quarter payment is for August, September and October room tax receipts. The 2nd quarter deposit of $870,207 is an increase of 11.5% over the $780,503 we received last year. Year to date fiscal year 2014 total room occupancy tax receipts are $1,673,443 compared to $1,531,525 for FY 2013, an increase of 9.3%.
Year-to-date room occupancy taxes have been distributed as follows:
$585,705 Tourism Fund (35%)
$451,830 General Fund (27%)
$418,361 Capital Improvement Fund (25%)
$217,547 Wastewater Enterprise Fund (13%)
Meals Tax $232,972
The second quarter payment is for the August, September and October meals tax. The payment of $232,972 is a 6.0% increase over the $219,782 we received for the same quarter last year. Fiscal year 2014 meals tax receipts are $457,882 compared to $448,992 for fiscal year 2013, an increase of 2.0%.