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The North Tahoe business community has officially passed the Tourism Business Improvement District, freeing up TOT dollars to support workforce housing initiatives and ensuring locally generated funds are governed by local businesses. The Placer County Board of Supervisors is supportive, voting unanimously to move forward with the formation of a district. Find the Press Release announcement HERE and a FAQs document on implementation timing HERE. Contingent on the TBID passing was freed up Transient Occupancy Tax funds ($4.1 million) to be used for local traffic and trash mitigation projects and workforce housing initiatives. Find a press release from Placer County outlining an initial expenditure of those funds HERE.
Below is additional information to learn how this assessment will benefit the North Tahoe community. As a starting point, please download the TBID Education Packet. For an overview video on how the TBID will work, watch here. To learn about the evolution of North Lake Tahoe's TBID, watch here.
What is a TBID
A Tourism Business Improvement District (TBID) is a mechanism for funding tourism promotion and economic development activities that are designed to increase revenues for the assessed businesses. Read more in the TBID FAQ's.
Understand the key differences between TOT and TBID funding structures HERE.
Your Vote Matters
The weight of each petition, or its total value, is based on the estimated assessment the business will pay. That amount is calculated by using the prior year’s sales tax information or TOT to determine total revenue. Jeffrey Hentz, CEO of the North Lake Tahoe Resort Association, has a keen understanding of our economic climate and business community. If you have specific questions or would like to set up a meeting to learn more, please email him at: Jeff@GoTahoeNorth.com.
How the TBID Impacts Your Business
Businesses will collect the TBID assessment from customers. Assessment rates on revenues will be set at:
Lakeside Lodging: 2%
Northstar California & Squaw Valley Alpine Meadows communities: 1%
Retailers, Activity Providers, and Restaurants: 1%
A tiered flat fee for businesses with revenues under $150K
Customer receipt example:
Management District Plan
TBID dollars will be managed by the NLTRA with oversight from the NLTRA Board of Directors and corresponding committees (see the governance structure HERE).
The TBID will be operated in accordance with a Management District Plan (MDP) and representatives of businesses paying the assessment will be asked to participate. The NLTRA is committed to incorporating public input and participation in decision-making, all Committee and Board of Directors meetings are open to the public. The final Management District Plan has been approved, please read in full HERE.
What the Business Community is Saying
From lodging properties and activity providers to restaurants and retailers, there is strong support of a TBID from the North Lake Tahoe business community. Read why they have chosen to support a TBID HERE. Read three opinion pieces by local business owners HERE, HERE and HERE.