(A) For the purpose of operation of the Tourist and Convention Commission and to finance the cost of acquisition, construction, operation and maintenance of facilities useful in the attraction and promotion of tourist and convention business, there is hereby imposed and levied a transient room tax of 3%. The Woodford County Fiscal Court shall provide funding for the Tourist Commission by imposing and levying this transient room tax of 3%: on the rent for every occupancy of a suite, room, cabin, lodging, campsite, or other accommodation charged by any and all hotels, motels, inns, tourist camps, tourist cabins, campgrounds, recreational vehicle parks, bed and breakfast establishments, Airbnb or other like providers, or any other place(s) in which accommodations are regularly furnished to transients for consideration; and/or on the rent procured by any person or entity that facilitates the rental of the accommodations by brokering, coordinating, or in any other way arranging for the rental of the accommodations subject to this transient room tax.
(B) On and after April 1, 1993, every person, entity, company, corporation or other like or similar persons, groups or organizations doing business by the provision or facilitating of suites, rooms, cabins, lodgings, campsites, or other accommodations charged by any and all hotels, motels, inns, tourist camps, tourist cabins, campgrounds, recreational vehicle parks, bed and breakfast establishments, Airbnb or other like providers, or any other place(s) in which accommodations are regularly furnished to transients for consideration, or by brokering, coordinating, or in any other way arranging for the rental of the accommodations subject to this transient room tax, shall pay quarterly into the County Treasury, for periods ending March 31, June 30, September 30 and December 31 of each year, a transient room tax of 3% of the gross rent for every occupancy as established above charged and collected by them during such quarterly periods. Such tax shall be due and payable on or before the last day of the month next following the last day of each quarterly period, together with a return on a form furnished by or obtained from the Woodford County Treasurer setting an aggregate amount of gross rentals charged and collected during the preceding quarter for every occupancy to which the transient room tax applies, together with such other pertinent information as the Woodford County Treasurer may require, including copies of U.S. and Kentucky income tax returns of the business or facilitator involved.
(C) Any tax imposed by this subchapter which shall remain unpaid after it becomes due, as set forth herein, shall have added to it a penalty of 10%, together with interest at the rate of 0.5% for each month of delinquency, or fraction thereof, until paid.
(D) The tax imposed by this subchapter shall be charged under the same regulations that apply to the Kentucky sales tax.
(E) The tax imposed by this subchapter shall be in addition to other general taxes and the occupational or business license tax.
(F) In consideration of collection and bookkeeping expenses incurred in the collection of the tax, Woodford Fiscal Court shall be paid a fee of 3% of all room taxes collected, including interest and penalty collected thereon. All receipts, payments and controls utilized by the county relating to the collection of the room tax shall be included in the annual audit for the county as prescribed by the Kentucky Revised Statutes.
(G) After the fee referenced to in division (F) above has been deducted, the balance of all room taxes collected shall be designated as funds to be utilized in the promotion of tourism in Versailles, Midway and Woodford County; 1/3 of the amount designated thereof shall be considered an appropriation from Woodford County, 1/3 from the City of Versailles, and 1/3 from the City of Midway, and shall be available to the Versailles-Midway-Woodford County Tourist Commission as operating funds to accomplish its purposes as set forth herein.
(H) No revenue bonds may be issued by the Commission without the prior approval and consent by the Woodford Fiscal Court, the Versailles City Council and the Midway City Council.
(Ord. 1-92, passed 1-12-1992; Am. Ord. 12-01, passed 9-11-2001; Am. Ord. 2022-11, passed 1-10-2023)