Prince Edward County Council has learned just how much cash the Municipal Accommodation Tax made in 2022.
During Tuesday’s council meeting, council received a report on the previous year’s MAT. The report outlined that over 2022, a total of $1,372,303 in MAT was paid to the municipality.
Hotels, Airbnbs, and other short term rental accommodations are subject to the Municipal Accommodation Tax.
From the funds raised, half went to the municipality, while the rest was split between Stay PEC and Visit the County, to promote more tourism in the region.
The municipality’s portion, along with unspent MAT revenue from the previous year, is being split between funding the 2023 tourism management plan, and the reserve for road construction.
Prince Edward County staff also included information in the report about MAT charges in other communities. The report found that Prince Edward County’s MAT was on par with most of the province at four per cent.
The report also advised that council is allowed to alter the MAT percentage, though only Toronto has done so with an increase to 6% set to take effect in May.
