Monday, June 15, 2015

Hey we're rich!

These are the good times. Let's throw a party or something.
Money collected from the New Orleans hotel occupancy tax is on pace to reach a five-year high, totaling more than $43 million so far this fiscal year. Healthy travel growth means tax revenues could continue to rise next year and beyond.
Oh but, not really.  Turns out only the tourism boards are rich because, you know, tourism begets more tourism. It's the "lifeblood of the city," you know.
The 13 percent hotel occupancy sales tax is collected on hotel stays in Orleans Parish. Revenues are split six ways.

The bulk -- 8 cents -- goes to the Louisiana Sports and Exposition District and the Ernest N. Morial Convention Center. The LSED oversees the Mercedes-Benz Superdome and the Smoothie King Arena.

The City of New Orleans and Orleans Parish School Board each get 1.5 cents for every dollar. The remaining 2 cents are split between the Convention and Visitors Bureau and the Regional Transit Authority.
Phase 3 is profit, though. 

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