A new report from the American Independent Budget Office has shown that income from hotel occupancy tax in New York City has dropped by $14m in the 2016 fiscal year. The report suggests that hotel occupancy tax will generate $546m over one year, reflecting the $14m drop from the previous year: the first drop seen since the recession in 2009. The budget office report specifically mentions competition from services like Airbnb as a contributing factor to losses.
A new report from the American Independent Budget Office has shown that income from hotel occupancy tax in New York City has dropped by $14m in one year. The report suggests that hotel occupancy tax will generate $546m over the 2016 fiscal year, reflecting the $14m drop from the previous year: the first drop seen since the recession in 2009. The budget office report specifically mentions competition from services like Airbnb as a contributing factor to losses.