Panama City-Bay County International Airport
For those of you in Panama City Beach, Laguna Beach, Mexico Beach, Grand Lagoon, and elsewhere in Bay County, FL:
The county commissioners just raised the tourist development tax from 3% to 4% for March 1-31 and 5% for after April 1. Combine this with the state of Florida tax of 6%, we are now collecting 11% from our renters. Yikes!
From what I’ve read, 1% of this is to market the new airport on the west side of Bay county set to open in May of 2010. The other 1% is to lure a low-cost airline to the airport (Air-Tran or Southwest maybe?).
The new airport can accommodate larger jets, something I assume the old airport in Panama City could not.
I hope 2% brings in enough tenants in the area to justify this cost (including the cost of the airport relocation) I’m not so sure…
How many of your tenants drive versus fly to the gulf coast? How many more bookings will you get because of this airport? I would guess your answer is similar to mine – not many.
Add your comments below.
