Orange County Auditor Phil Diamond announced on July 3 that Tourism Development Tax collections received by Orange County for the May 2024 Tourism Development Tax collection month were $28,383,700.
May 2024 revenues increased $2.2 million, or 8.3%, over May 2023 revenues.
A 6% tax is levied on hotel stays, vacation rentals and other short-term lodging in Orange County.
Compared to last month, May collections were $1.9 million, or 6.3%, lower than April collections. Fiscal year-to-date, collections are down $1.1 million, or 0.4%.
For the TDT reserve, the renewal and replacement reserve increased by $5.8 million in May. The other approved uses reserve, a component of the R&RR, now stands at $95.2 million. This reserve will help offset a portion of future costs associated with recently approved projects and programs, such as the Convention Center 5A Expansion Project, Camping World Stadium renovations, additional Arts and Application Review Board funding, and the UCF Football Stadium Tower Project.
According to state law, revenues collected by the TDT must be used for facilities that benefit the tourism industry. In Orange County, the TDT funds Visit Orlando, the Orange County Convention Center, the Kia Center, Dr. Phillips Performing Arts Center, Camping World Stadium, and various arts and sports programs.
