Wednesday, April 23, 2008

Meal Tax Revenues

Projo is reporting that for Feb. these revenues went up an average of 7%.
Dale J. Venturini, president of the Rhode Island Hospitality and Tourism Association, said she was not surprised that February was better this year than last. “I’m encouraged by it, but it’s much lower than I expected it to be.”
She said that a number of new restaurants have opened in the last year and that the economy in February had not yet become as “dreadful” as in March and April. She said data for those months, the first of which is due out in a few weeks, could be telling.

The State collects 8% tax & returns 1% to local gov't. Here is the rundown:

Little Compton- Feb. tax $880, Daily Av. $30; Feb. 07 tax $1,029, Daily av. $37; % change -17.4

Newport- $63,333, $2,184; $69,820, $2,494; -12.4

Middletown $33,719, $1,163; $29,866, $1,067; 9.0

Tiverton $16,009 $552; $16,098, $575; -4.0

I'm supposing that winter hurt most towns while Middletown survives with its myriad of cheap, chains & other reasonably priced establishments.

Thanks to reporter Paul Edward Parker.
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