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AG 2008 01 22
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AG 2008 01 22
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Last modified
8/6/2009 10:42:20 AM
Creation date
11/27/2017 11:27:47 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
1/16/2008
Board
Board of Commissioners
Meeting Type
Regular
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To: The Honorable Cabarrus County Commissioners <br />From: Cabarrus County Tourism Authority Board of Directors <br />Subject: Hotel Occupancy Tax Increase <br />Date: Januazy 4, 2008 <br />On December 13, 2007, the Tourism Authority Boazd voted unanimously to request an increase in the hotel <br />occupancy tax from its current five per cent (5%) level to six per cent (6%). As stated by the North <br />Carolina statute authorizing occupancy tax collections, this is a formal request by the Cabarrus County <br />Tourism Authority to the Cabarrus County Commissioners to vote in favor of a one percent (1%) increase <br />in the occupancy tax rate. <br />The occupancy tax is paid by visitors staying in Cabarrus County lodging facilities and is the Convention & <br />Visitors Bureau's primary source of funding. Cabarrus County taxpayers do not contribute to the funding <br />of the Tourism Authority or the Convention and Visitors Bureau. <br />The request is directly related to the rapid growth of the tourism infrastructure in Cabarrus County. The <br />anticipated growth of over 1,000 new hotel rooms and plans for several new and upgraded attractions in the <br />marketplace within the next two years will require significant marketing and visitor management. The <br />additional marketing efforts allowed by this increased funding will yield greater occupancy rates for both <br />existing and new hotels during a critical period of hotel room absorption. It will also provide greater <br />economic impact for all related Cabarrus County businesses and enhance sales tax collections that <br />contribute to the county's budget for the benefit of Cabarrus County citizens. <br />The current level of funding for the CVB is approximately $2 million per year. The additional one per cent <br />(1%) tax will add approximately $400,000 to the fiscal 2008/2009 budget of the Convention and Visitors <br />Bureau. Cabarrus County government is paid a fee of 5% of total tax collections to administer the taxes <br />paid by visitors staying in the hotels. <br />3003 Dale Earnhardt Blvd ° Kannapolis, NC 28083 <br />Toll Free 800-848-3740 ^ Phone 704-78Z-4340 ° Fax 704-78Z-4333 <br />vdww.visitcabarrus. com <br />
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