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HOUSTON - Tax Day is Tuesday, but officials at Airbnb have already counted the financial ways its partners are helping Texans!
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According to a report, Airbnb collected and remitted more than $87.4 million in tourism taxes on behalf of hosts in Texas; a 35 percent increase from 2021.
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Organizers say these numbers come during a time when local governments across the country continue reeling from the financial impact caused by the COVID-19 pandemic, which decimated revenue streams. However, tourism taxes collected on behalf of Airbnb hosts are shown to be a financial success.
"During the pandemic, we continued to expand our collection and remittance of tourism taxes to local governments…to maximize tax revenue generated from travel on Airbnb," the report from Airbnb states.
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In fact, Airbnb says it collected and remitted more than $1 billion in U.S. tourism taxes in 2022; an increase of about 27 percent from 2021.
"Whether we’re collecting and remitting taxes in states that need our Hosts’ tax dollars now more than ever or streamlining the collection process for a growing source of revenue for emerging travel hubs, we’ll continue to work closely with local governments to unlock the full potential of tourism and travel," Airbnb concluded.
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To read more and how much other states generated in taxes, click here.