May 31, 2018
Mayor Barron Casteel
C/O City Manager
City of New Braunfels
P.O. Box 311747
New Braunfels, TX 78131-1747
Dear Mayor Casteel:
Enclosed is the second fiscal quarter 2017-2018 financial report along with activity and highlights of this three month period via jump drive. Supplemental information for your files is enclosed and sufficient copies of the executive summary for each Councilmember, the City Manager, Interim City Finance Director, and City Secretary.
City of New Braunfels Hotel Occupancy Tax payments reflects a 2.3% increase for January through March of 2018. State data regarding the second fiscal quarter 2018 collections of Hotel Occupancy revenues reflect an 11% increase. Reports from the Texas Hotel Performance Factbook show that the Texas Comptroller began receiving State Hotel Occupancy Payments from Air BnB for each City in Texas at the end of 2017. Hopefully, the Comptroller will be able to provide a list of properties operating in New Braunfels that have already paid the State Tax so that New Braunfels can start collecting the local portion of the Hotel Occupancy Tax. The CVB is working closely with the City to identify and educate the homestay rental industry of the requirement to pay Hotel Occupancy Tax, both locally and State.
During the third fiscal quarter, we look forward to implementing the river education program and continuing through the end of July. All information is held at TubeInNewBraunfels.com We appreciate your support and will be happy to respond to any questions or appear before city council if you so desire, regarding this report.
Sincerely,
Michael Meek, CEcD
President
MM/th
Enclosures
cc: City Council, City Manager, City Secretary, Interim Finance Director
Chamber Executive Committee
Tiffany Soechting, C&VB Chair
Judy Young, C&VB Vice President
