Posted in Business

New Spring Break rules led to huge bed tax drop on Panama City Beach

   April 29, 2016

For years, March has been one of Panama City Beach’s most profitable months, thanks to hundreds of thousands of college students on spring break. That was until stricter laws were put in place.

The Bay County Tourist Development Council (TDC) reported yesterday that March revenues from the Beach’s tourist development tax, or bed tax, were down over 40 percent from March 2015. The collections fell from $2 million last March to $1.2 million this year. The TDC Director told the local newspaper the overall hit to the Panama City Beach economy was about $40 million.

Read News Herald article.

March Bed Tax Collections:

2016: $1.2 million

2015: $2 million

2014: $1.9 million

2013: $2.1 million

2012: $1.8 million

2011: $1.5 million

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