SR 05:300 - Laserfiche WebLink

Documentary Transfer Taxes exceeded staffs projections due to the continued strong housing market through June 2005. Revenues were $1.13 million, an increase of $195,000 over FY04, and a 12.7% favorable variance to projections of $1 million. For the FY06 budget adoption, staff projected this revenue to fall to about $800,000. Business License tax revenues in FY05 came within a few thousand dollars of staffs projected $2.95 million (a $285,000 or 10.7% increase over FY04). Hotel tax revenues slightly exceeded projections ($48,800 more than the projected $2.75 million). However, revenues are still down significantly ($1.2 million) from their high of $4 million in FY01. The following table shows the history of hotel tax revenues. -- HOTEL TAX mSTORY FY96 TO FY05 $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 _~_n___~ $1.0 .~ $0.5 $0.0 '" r- oo '" 0 N M .. '" '" '" '" '" 0 0 9 0 9 0 '" -0 ~ oo d- o N M .,;. '" '" '" '" '" 0 0 0 0 0 '" '" '" '" '" 0 0 0 0 0 - - - - - N N N N N Hotel Tax History 1996 to 2005 Fiscal Year $ in Millions % Increase 1995-96 $2.2 15.8% 1996-97 $2.5 13.6% 1997-98 $2.9 16.0% 1998-99 $3.2 10.3% 1999-00 $3.6 12.5% 2000-01 $4.0 11.1% 2001-02 $3.0 -25.0% 2002-03 $2.8 -6.7% 2003-04 $2.5 -10.7% 2004-05 $2.8 12.0% SR 05:300 10