The tensions that plagued the past two Tybee City Council meetings as councilmen and women discussed and approved the short-term rental ordinance dissipated as attention turned toward the island’s FY2025 budget.
When the fiscal year begins next Monday, July 1, Tybee Island’s municipal budget will be over $1 million lower than the amended FY2024 budget.
Council members unanimously approved keeping the FY2025 millage rate of 3.542 mills the same as last year.
Despite property valuations increasing the tax digest 6.16%, the city lost revenue through the hotel-motel tax because tourism numbers settled back to pre-COVID peaks.
The island is returning to pre-COVID levels of visitors after peak numbers of more than 6 million in 2021 and 2022. Tybee expects to have around 5.7 million visitors in 2024, the same as 2019 and 2023. With visitor numbers declining from peak years, the hotel-motel tax revenue has also decreased. The projected revenue for 2024 in hotel motel is $6.5 million, down from a high of $7.8 million collected in 2022.