2025 Budget for the City of Shakopee

88

2025 Annual Budget

Fund: Lodging Tax

Description of Services: A statutorily allowed 3 percent lodging tax is imposed by the City Council. Once collected, 95 percent is submitted to the Shakopee Chamber and Visitors Bureau (CVB) and 5 percent is retained to defer administrative expenses. This fund accounts for the tax revenue and the expenditures to both the CVB and the city's General Fund for the administration portion of the lodging tax proceeds. Goals/Challenges:  Lodging tax was hit hard with the coronavirus pandemic resulting in a decrease in revenues, those revenues are finally above the pre-pandemic level.

Performance Measures:

Actual 2022

Actual 2023

Projected 2024

Projected 2025

Number of Hotels

12

12

12

12