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R.I. Department of Revenue releases June 2018 local hotel report

Providence, R.I. -- The Rhode Island Department of Revenue today released its FY 2018 Local 1.0 Percent Hotel Tax Collections Report for June 2018. 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 June 2018 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 period of July 2016 through June 2017 and July 2017 through June 2018.

For the City of Newport, local 1.0 percent hotel tax collections from these rentals covers July 2017 through June 2018 and October 2016 through June 2017 but not July through September 2016.

Highlights from the report as noted by Director of Revenue Mark A. Furcolo were Local 1.0 percent hotel tax collections were up between June 2018 and May 2018, at a rate of 29.8 percent, eight percentage points more than the rate of growth recorded for the same period last fiscal year when the increase was 21.8 percent; o June 2018 cash collections include $105,672 in receipts attributable to the local 1.0 percent hotel tax base expansion vs. $65,435 accounted for in May 2018; Year-over-year local 1.0 percent hotel tax collections for June 2018, increased at a 17.8 percent rate, less than the 20.0 percent growth rate recorded in June 2017. o Year-over-year FY 2018 local 1.0 percent hotel tax collections include $105,672 of receipts generated from the local 1.0 percent hotel tax base expansion vs. $68,727 recorded in June 2017; Fiscal year-to-date over fiscal year-to-date increase in local 1.0 percent hotel tax collections for June 2018 remained robust at 14.8 percent, a 5.9 percentage point increase from the fiscal year-to-date-over-fiscal year-to-date growth rate posted in June 2017; o Year-to-date FY 2018 local 1.0 percent hotel tax collections through June include $892,837 of receipts generated from the local 1.0 percent hotel tax base expansion vs. $573,704 recorded in FY 2017 through June.

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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