Visit Fort Worth
The Fort Worth City Council on Tuesday voted to put an additional 2% hotel occupancy tax, or HOT, on the May 4 ballot.
The hotel occupancy tax is paid by those renting a hotel room. The 2% HOT would be in addition to the current 15% general state and local HOT. If approved by voters, the 2% increase would put the total HOT at 17%, the current rate in Houston and Austin.
The increase must be approved by voters.
The 2% HOT is projected to generate $10 million per year, which would be used to support revenue bonds for the Fort Worth Convention Center renovation.
Voters in the city of Dallas approved an increase in its HOT from 13% to 15% two years ago to help pay for a new downtown convention center and renovations at Fair Park.
Construction costs for the long-planned Fort Worth Convention Center renovation have increased due to inflation and other factors.
The City Council designated the Convention Center as a “venue” project under state law and identified HOT as the proposed funding source. A voter-approved venue project cannot be supported by property tax or property-tax-backed bonds.
The Comptroller’s Office has completed its review of the Fort Worth Convention Center venue designation and issued a letter stating that there is no significant negative impact on state revenue.
April 22 is the first day of early voting. Election Day is May 4. More information on important election-related dates can be found at VoteTexas.gov.
An explainer on hotel occupancy taxes can be found here.