Visit Panama City Beach announces record tourism development tax collection for the month of September 2015, indicating a record number of visitors for that month and for the fiscal year. The collection of approximately $1.3 million for September was an increase of 26.6 percent over the same month in 2014. For the fiscal year (beginning in October 2014), Panama City Beach bed tax collection increased an average of 10.9 percent overall for the entire year.
"Our collective success further shows Panama City Beach is embraced as a year round vacation destination," shares Visit Panama City Beach President and CEO Dan Rowe. "With family-friendly events offered during each and every season, our beautiful destination welcomes those who want to explore and experience a real fun beach."
Other highlight months for Panama City Beach over the fiscal year include October 2014 (up 23 percent), February 2015 (up 18 percent), and April 2015 (up 17 percent) - all traditional shoulder season months that experienced incredible growth compared to the previous year's same month collection. Innovative family-friendly events including the Pirates of the High Seas Festival, the Panama City Beach Mardi Gras and Music Festival, and the Seabreeze Jazz Festival continue to add incentive for visitors to return to the destination multiple times throughout the year. Renovations and expansions of accommodations and attractions have also attributed to the destination's popularity among travelers.
The Tourist Development Tax is a five percent bed tax that is collected from a special taxing jurisdiction within Bay County on short-term vacation rentals including hotel and condominiums. It is the most accurate gauge to estimate destination visitation numbers. The tax funds the marketing and promotional activities performed by the Panama City Beach Convention & Visitors Bureau. It is also used for beach cleaning and grooming, product improvement and beach renourishment.
Visit the Bay County Clerk website https://tdc.baycoclerk.com/TouristTax/ to learn more about the bed tax.