HOT Funds Are Hot in Victoria Right Now, Here’s The Scoop
What the heck are 'HOT funds?"
Have you ever wondered what exactly constitutes "HOT funds" or what the heck HOT funds are anyway? Well, we've got the scoop for ya!
HOT Funds 101
HOT funds stand for Hotel Occupancy Tax.
The hotel occupancy tax in Texas equates to 6% of the total cost of rooms guests stay in while visiting our great state, which includes Victoria as well. Yep, when you're checking out of a room, you'll see the taxes added to the bottom and some of that are hot funds. Hotels aren't the only ones who collect these taxes; bed and breakfasts, Air B&Bs, even apartment complexes collect on any rooms or space not rented for over 30 days and cost over $15 or more each day of rental.
Where does the tax money go?
Straight from the Texas Comptroller's office, " Under Texas law, local HOT revenue can be used only to directly promote tourism and the convention/hotel industry." This means the proceeds should be spent on projects or events that result in visitors or attendees staying overnight in the community, generating more hotel occupancy tax.
What does this mean to you?
Well, if you have an event that would likely put " heads in beds," meaning an event people would likely travel to Victoria and stay a night or two, YOU (or your organization) can apply for the City of Victoria HOT funds!
In fact, the applications for the City of Victoria HOT funds are coming up!
"The City of Victoria will be accepting applications now through July 31st from local organizations seeking hotel occupancy tax (HOT) funds" the most recent City of Victoria Civic Alert offers. You can read that alert in its entirety here.
How do I find out if my event qualifies for City of Victoria HOT funds?
One great way to find out more is to participate in the pre-application sessions covering the HOT fund's application process and the evaluation process via Zoom.
Workshops covering the HOT funds application process and the evaluation process will be July 14 at 6 p.m., July 20 at noon, July 22 at noon and July 27 at 6 p.m.
Meetings will be held at 700 Main Center, conference room 205, and through Zoom as through the City of Victoria website, which you can check out here.
Attending the meetings count!
Attending the Zoom meetings helps your application score!
You can call Joel Novosad, Director of the Victoria Convention & Visitors Bureau, at 361-485-3117.
Here are some of the entities that have received HOT funds in the past.
Attend the Zoom meetings and find out how you can be a part of HOT funds in the future!
RESTAURANTS THAT VICTORIAN'S MISS & WANT