Hot Springs ad tax reaches $5M for first time
HOT SPRINGS (AP) - A 3% tax on hotels rooms and restaurant meals in Hot Springs has generated $5 million for the first time in its 48-year history.
Revenue from December 2011 through November 2012 brought in $5.02 million. Even though that's a record for the Hot Springs Advertising and Promotions Board, director Steve Arrison says he hoped for a stronger performance.
The Sentinel-Record reports that the single largest driver behind the tax is the live thoroughbred racing season at Oaklawn Park.
This year, the track had a strong opening day that was followed by a washout of 2 racing days due to heavy rain. The track reopened Thursday for the long holiday weekend, which brought sunny skies and mild temperatures.
Information from: The Sentinel-Record, http://www.hotsr.comCopyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.