There is one assumption - that 85% of the total occupancy and sales tax is generated east of the Beach Road.
There are no multipliers added for the money that these guests spend on vacation. Any additional value to our local economy just makes the benefit greater.
The Nags Head Finance officer supplied the data from public records on property, sales and occupancy tax collections.
|Ad valorem taxes|
|Oceanside properties: (includes south nags head west of 1243)|
|26,823,259.77||over five years to county and town|
|Town wide annually based on FY08/09|
|54,215,069.96||over five years to state, county, and towns|
|46,082,809.47||estimated oceanside percentage - 85%|
$72,906,069 Five year total for property taxes, occupancy taxes generated, and sales tax generated
Does not include dollars spent on restaurants, retail, gas, entertainment while here or sales taxes generated on same.
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