Tourism Development Tax collections reach $28.3 million in May

Orange County Comptroller Phil Diamond on July 3 announced the Tourist Development Tax collections received by Orange County for the May 2024 TDT collection month were $28,383,700. 

May 2024 collections were higher than May 2023 collections by $2.2 million, or 8.3%.

The 6% tax is levied on hotel room nights, vacation rentals and other short-term lodgings in Orange County. 

Compared to last month, May collections were lower than April collections by $1.9 million, or 6.3%. On a fiscal year-to-date basis, collections are down by $1.1 million, or 0.4%. 

On the TDT reserve side, Renewal & Replacement Reserves increased by $5.8 million in May. The Other Authorized Uses Reserves, a component of the R&RR, is currently at $95.2 million. This reserve will help offset some of the future expenses associated with recently approved projects and programs such as the Convention Center 5A expansion project, Camping World Stadium renovations, additional Arts and Application Review Committee funding, and the UCF football stadium tower project. 

According to state law, revenues collected in the TDT must be used for facilities that benefit the tourism industry. In Orange County, it funds Visit Orlando, the Orange County Convention Center, Kia Center, Dr. Phillips Performing Arts Center, Camping World Stadium, as well as various arts and sports programs.