Miami-Dade Hotel Taxes Plummet
June 2009 brought an 18 percent drop in Miami-Dade hotel taxes. This drop resembles that of the 16.8 percent decline in the 12 months following the 2001 terrorist attacks.
This drop in hotel taxes further complicates the county’s efforts to finance a new baseball stadium for the Florida Marlins. The county is securing future hotel taxes for the nearly $400 million of construction debt they plan to incur. The steep hotel tax decline has forced county officials to rewrite the stadium’s financing plan. The stadium’s future is dependent on the hotel market’s success over the next two years.
If you are planning a trip to Miami, check out the different lodging options from Miami hotels to Miami vacation rentals.
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