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R.I. local hotel tax collections rose sharply in August 2017

Providence, R.I. -- The Rhode Island Department of Revenue today released its FY 2018 Local 1.0 Percent Hotel Tax Collections Report for August 2017. The Local 1.0 Percent Hotel Tax Collections Report, which is issued on a monthly basis, compares the collections from the state's local 1.0 percent hotel tax on a month-to-month, year-over-year, and fiscal year-to-date over fiscal year-to-date basis. The local 1.0 percent hotel tax is collected on the rental of rooms in the state and remitted, in full, to the municipality in which the room rental was located.

Expansion of the Local 1.0 Percent Hotel Tax Base The August 2017 report includes the local 1.0 percent hotel tax collections generated by the rental of lodging via hosting platforms and by on-line travel companies (room resellers) and vacation home rentals by homeowners and realtors for all municipalities other than the City of Newport. For the City of Newport, local 1.0 percent hotel tax collections from these rentals covers only July and August 2017 and not July and August 2016.

Highlights from the report as noted by Director of Revenue Mark A. Furcolo were Local 1.0 percent hotel tax collections were up slightly between August and July 2017, growing at a rate of 2.2 percent; o August 2017 cash collections include $148,456 in receipts attributable to the local 1.0 percent hotel tax base expansion vs. $163,250 accounted for in July 2017; Year-over-year increase in local 1.0 percent hotel tax collections were up sharply for August 2017 growing at a 28.2 percent rate well above the 9.7 percent rate recorded in August 2016. o Year-over-year FY 2018 local 1.0 percent hotel tax collections incorporate $148,456 of receipts generated from the local 1.0 percent hotel tax base expansion vs. $15,042 recorded in August 2016 Fiscal year-to-date over fiscal year-to-date increase in local 1.0 percent hotel tax collections for August 2017 was solid at 18.4 percent and above the 13.8 percent fiscal year-to-date-over-fiscal year-to-date increase posted in August 2016; o Year-to-date FY 2018 local 1.0 percent hotel tax collections through August incorporate $311,706 of receipts generated from the local 1.0 percent hotel tax base expansion vs. $127,415 recorded in FY 2017 through August.

The entire report can be found on the Department of Revenue's web site at http://www.dor.ri.gov/revenue-analysis/2018.php under the Local Reports tab. The full report includes the break down by municipality of local hotel tax collections on a month-to-month, year-over-year, and fiscal year-to-date over fiscal year-to-date basis.

Questions or comments on the report should be directed to Paul Grimaldi, Chief of Information and Public Relations by e-mail at paul.grimaldi@revenue.ri.gov or by phone at (401) 574-8766.

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