- Brevard County’s Tourist Development Tax generated $2.86 million in February, marking a 17 percent Year over Year increase and a record 23 consecutive months of revenue growth.
- The tax has generated over $10 million YTD, a 22 percent increase from the previous high.
- Hotels and motels generated the most revenue, with Cocoa Beach being the highest revenue-generating city, followed by Cape Canaveral and Melbourne.
Brevard County financial documents published on Friday show that its Tourist Development Tax generated $2.86 million for the month of February, marking a 17 percent increase from the previous year. The figure marks 23 consecutive months that the county has reported record revenue through the tax.
Year-to-date, the tax has brought in more than $10 million for Brevard County, which Peter Cranis, Space Coast Office of Tourism Executive Director, told Space Coast Daily is a 22 percent rise over last year’s previous high.
According to county documents, hotels and motels were the primary sources of revenue, generating $1.76 million. Property management companies, such as Airbnb and Expedia, followed as the second-largest contributor to taxes, providing $714,263. Taxes on condos contributed $85,040 in February, while vacation rentals brought in $77,413.
When examining the different cities within Brevard County and the broader Space Coast region, it was found that Cocoa Beach yielded the highest tax revenue of $553,898. Cape Canaveral and Melbourne followed as the second and third-highest revenue generators, with $351,206 and $348,501 respectively. The remaining tax revenue was attributed to smaller coastal cities like Titusville, which contributed $169,707 towards the total $2.86 million sum.
Brevard County is expecting March to be its busiest tourism month, with an estimated total revenue of at least $1.6 million from taxes. However, based on trends from the past two years, the actual figures are anticipated to surpass this projection. For instance, in February, the county predicted revenue of $1.6 million, but the actual reported figures exceeded this by $1 million.
The Tourist Development Tax is a 5 percent tax added to short-term rentals of hotels, motels, apartment hotels, rooming houses, RV parks, and condominiums in Brevard County. The tax was approved by voters in 1986, and the collected revenue is allocated to specific tourism-centered budget items.
At least 25 percent goes to promoting tourism, up to 35 percent is used for public convention centers, sports facilities, museums, and cultural events, and 35 percent is spent on beach parks and improvements.
Last week, Port Canaveral – renowned as the world’s busiest port – announced that its cruise passenger count has surpassed last year’s record, setting a new milestone. In addition, space launches have played a pivotal role in boosting Brevard County’s tourism industry. These launches attract spectators from across the globe who come to witness the liftoffs firsthand, particularly those involving SpaceX and its reusable Falcon 9 rockets. Consequently, hotels and restaurants in the vicinity typically experience a surge in business during launches.