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Rate Increase FAQ

Tourist Development Tax (TDT)

 

  1. When will the 6% Tourist Development Tax increase take effect?

    Palm Beach County will implement the 6% rate beginning February 1, 2015.

     

  2. I pay my Tourist Development Tax annually, semiannually, or quarterly. What do I do?

    You will have to file a separate return for January 2015 at the previous 5% rate. Any property rented in February going forward will be required to pay the 6% rate regardless of filing period.

     

  3. What form do I use to file and report both the 5% and 6% rates?

    If your reporting period includes January 2015 and February 2015, you will use two Return forms – January 2015 will be calculated at gross rental receipts x 5% and February 1, 2015 forward will be calculated at gross rental receipts x 6%.

 

  1. I have already collected TDT at 5% from my renter. Am I responsible for collecting the additional 1% increase?

    Yes. In Palm Beach County, effective February 1, 2015, new 6% rate must be collected going forward.  

     

  2. When will penalties and interest charges begin to accrue on the unpaid 1% increase?

    After 30 days, the delinquent payment will accrue penalties and interest.

     

  3. I am a realtor/property owner. How will the 1% increase in Tourist Development Tax need to be reflected in leases that are already in effect?

    Any lease that covers February 1, 2015 and/or going forward will need to be collecting the 6% tax rate.

     

  4. When I file my TDT at the 5% rate and the 6% rate, will the 2.5% Collection Allowance Credit apply to both returns? Is the second return considered a Supplemental Filing (no collection allowance credit applicable)?

    The Collection Allowance Credit will apply to both returns.

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