What portion of occupancy tax is unencumbered?

A guest in a hotel in Dallas pays a 15% occupancy tax. Of that, 6% is the State HOT, and 2% is the special tax approved by the voters to repay the AAC bonds. The remaining 7% is the City’s HOT.

The City’s HOT is apportioned as follows: by ordinance, a 4.65% portion out of the 7% of the City’s HOT (or approximately 66.43%) is pledged to the Convention Center Bonds; by contract, 32.60% of the City’s HOT (or approximately a 2.282% portion out of the 7%) is paid to the DCVB to promote tourism and convention business for Dallas; and the remaining 1% of the City’s HOT (or a 0.07% portion out of the 7%) is by ordinance dedicated to the Dallas Convention Center and is currently also used for debt service on the DCC Bonds. More.

A guest in a hotel in Dallas pays a 15% occupancy tax. Of that, 6% is the State HOT, and 2% is the special tax approved by the voters to repay the AAC bonds. The remaining 7% is the City’s HOT.

The City’s HOT is apportioned as follows: by ordinance, a 4.65% portion out of the 7% of the City’s HOT (or approximately 66.43%) is pledged to the Convention Center Bonds; by contract, 32.60% of the City’s HOT (or approximately a 2.282% portion out of the 7%) is paid to the DCVB to promote tourism and convention business for Dallas; and the remaining 1% of the City’s HOT (or a 0.07% portion out of the 7%) is by ordinance dedicated to the Dallas Convention Center and is currently also used for debt service on the DCC Bonds. More.

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