Fiscal Year 2025- 2026 Recommended Budget

HOTEL/MOTEL OCCUPANCY TAX FUND

Hotel/Motel Occupancy Tax: The City of Greensboro levies a 3% Room Occupancy Tax on all hotel/motel rooms within the city limits. The proceeds of the levy are distributed 80% to the City and 20% to the Greensboro Convention and Visitors Bureau. The City currently uses these proceeds to retire debt service on improvements to the First Horizon Coliseum Complex. The City also funds certain marketing expenses up to $200,000 annually.

!" #"#

"! "

" # " $

!" #"#

"! "

" # " $

! " #

%

%

$

%

%

%

$

%

& ' & &

"

" #

% &

!"$ #

( ) ( &

!" "

"! "

" ! "

!" #"#

"! "

" # " $

# * + , &

" #

!" $

'

!$" $$

- , . + ,

" $ " !

" "!

&

" $ "!

"$#

( /

"! "

"! "

" # " $

Budget Highlights: The FY 25-26 Recommended Budget is decreasing by $145,334, or -2.1% . This fund provides debt services payment for existing debt and ongoing maintenance at the Coliseum. A small portion of one (1) FTE from the Finance Department is allocated to this fund.

Recommended FY 25-26 Budget

4