|Buncombe County Administrative Fee Increase
|A 5% Fee will be Charged on Lodging Tax Collections in FY24
Lodging taxes, also known as occupancy taxes, are remitted by Buncombe County to the BTCDA. Since 2017, the county has charged a 1.5% administrative fee on total annual lodging tax collections. At the March 14 Buncombe County Budget Work Session, staff and commissioners discussed a fee increase and plan to charge the full five percent allowed by the new legislation.
In anticipation of this fee increase, the BCTDA projects a $2 million fee at 5% of the $39.6 million FY24 total lodging tax revenue, leaving $37.6 million in expected BCTDA revenue for the next fiscal year.