R.I. 5% hotel tax collections rise in August, fiscal YTD

THE R.I. DEPARTMENT OF REVENUE said 5 percent hotel tax collections increased 7 percent to $2.9 million in August. / COURTESY R.I. DEPARTMENT OF REVENUE
THE R.I. DEPARTMENT OF REVENUE said 5 percent hotel tax collections increased 7 percent to $2.9 million in August. / COURTESY R.I. DEPARTMENT OF REVENUE

PROVIDENCE – Five percent hotel tax collections rose 7 percent in August, and 3.4 percent on a fiscal year-to-date basis, the R.I. Department of Revenue said Friday.

The state agency said 5 percent hotel tax collections increased to $2.9 million in August compared with $2.7 million in August 2015.

The DOR said the year-over-year growth, at 7 percent, was higher than the 4.9 percent increase reported from August 2014 to August 2015.

Collections also grew to $5.8 million in the first two months of the fiscal year compared with $5.6 million during the same prior fiscal period.

- Advertisement -

Regional tourism districts received $2.5 million fiscal year to date, an increase of 3.1 percent from the prior-year period, while municipalities received $1.4 million, a 4.1 percent increase. R.I. Commerce Corp. received $1.3 million, an 8.5 percent increase; and the Providence Warwick Convention & Visitors Bureau, $640,267, a 4.2 percent increase.

Due to a formula change, the R.I. Convention Center Authority did not receive any funding fiscal year to date, while it received $66,156 in the year-ago fiscal period.

No posts to display