Hotel Occupancy Tax (HOT) receipts are distributed as authorized in Chapter 351 of the Texas Tax Code, as directed by the City Council. The total revenue projected for FY 2022-23 is $8.7 million an increase of $1.9 from the prior year budget.
The FY 2022-23 Operating Budget includes changes to the FY 2021-22 allocation as follows:
- Civic Center Operations and Marketing allocation increased from 27.9 percent to 29.7 percent.
- Buddy and Maria Elena Holly Plaza Debt Service allocation decreased from 1.3 percent to 1.0 percent.
- The allocation, Transfer to TIF - Conference Center decreased from 4.9 percent to 4.1 percent.
- The allocation, Transfer to CIP - Civic Center Exterior Improvements, will decrease from 3.7 percent to 3.1 percent
Budgeted expenditures have increased $1.9 million from the prior year budget for FY 2022-23. The funds received from the hotel occupancy tax shall be distributed as follows:
Entity |
Percentage |
Convention and Tourism Bureau |
42.38340% |
Civic Center Operations/Marketing |
29.67797% |
Visiting and Participatory & Spectator Sports Marketing |
13.81600% |
North Overton TIF Conference Center Debt Service |
4.11311% |
Civic Lubbock, Inc. |
5.92120% |
Buddy & Maria Elena Holly Plaza Debt Service |
1.00872% |
Transfer to Civic Center CIP |
3.07960% |
Total |
100.0000% |
|