Madison got some good news today, with Comptroller Dean Brasser reporting that hotel room tax revenues are up 2.9% in the first quarter compared to last year.
The city brought in $1,511,372 in room taxes, up about $43,000. In a memo to Common Council, Brasser says "Using our standard projection methodology, we predict that 2010 year-end Room Tax revenue will fall within the range of $7,300,000 to $7,900,000, with a most likely result of about $7,630,000, very close to the $7,661,000 budgeted for this year."
The city faced a revenue shortfall in 2009 that was some $1.5 million short of projections.
