What is the TBID / TBID history?
To free up Transient Occupancy Tax funds to support workforce housing and transportation initiatives and ensure locally generated funds are governed by local businesses, the North Lake Tahoe business community passed the TBID by signing a petition. The Placer County Board of Supervisors then voted unanimously to form the District for a five-year term from July 1, 2021, to June 30, 2026.
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 (retailers, restaurants, activities and attractions and all types of lodging).
TBID FAQs
What will TBID revenues be spent on?
Funds must be spent on programs and activities that benefit the businesses paying for the assessment.
Funds generated by Transient Occupancy Tax (TOT) and the North Lake Tahoe Tourism Business Improvement District (NLT-TBID) are allocated to initiatives that are making progress on workforce housing, regional transportation, economic vitality, trails, recreation, and tourism mitigation.
Learn MoreWho manages TBID funds?
The NTCA manages the funds generated by the TBID with oversight from the NTCA Board of Directors and committees made up of representatives from assessed businesses. The TBID is operated in accordance with a Management District Plan (MDP) and representatives of businesses paying the assessment will be asked to participate. The NTCA 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’s the difference between TOT and TBID funding structures?
TOT funds are generated by a 2% North Lake Tahoe hotel tax paid only by overnight lodging guests who stay in hotel and short-term rental properties. These funds help pay for projects and quality-of-life services exclusively for our community that we wouldn’t otherwise be able to afford like workforce housing, traffic reduction and transportation initiatives, bike paths, and trash and litter services in public areas.
TBID funds are to be used to increase revenues for assessed businesses by helping to bolster a year-round economy, offset tourism impacts and provide support for local businesses.
We need both because of the need to support our local business community while continuing to address transportation-oriented and workforce housing initiatives. It has become nearly impossible for people working in North Lake Tahoe to afford to live here and that’s why addressing workforce housing needs has become a top priority for using TOT funding generated by those who visit our region.
Understand the key differences between TOT and TBID funding structures HERE.