Issues, Cape May Taxpayers Association on taxes in cape may NJ

MTRAC

2021 Annual Report - MUNICIPAL TAXATION AND REVEUE ADVISORY COMMITTEE

The mission of MTRAC is to identify models of revenue sources, budgeting practices and resource allocation, and make recommendations to helped City Council address and resolve several issues to the benefit of both the City taxpayers and the City administration. The Committee initially convened on March 10. Twenty-two meetings were held of which sixteen were lived-streamed and available for viewing on the City Website. Minutes of the meetings not viewable are posted on the city website.

This work has resulted in following recommendations to City Council:

Occupancy Tax Revenue revisions:   Ordinance adopted by Council. 6/15/21

Fiscal Impact Analysis on proposed Resolutions and Ordinances:   Ordinance pending introduction

Fiscal Policies defining Employee Stipends: Ordinance adopted by Council. 1/18/22

Proposal for Federal action to recover revenue from Regional School Tax Burden: Council Resolution adopted 10/19/21

Required Annual Analysis and Revision of Municipal Fees: Ordinance adopted by Council. 2/1/22

Regulations and appropriate fees for the commercial use of residential properties: Ordinance adopted by Council. 2/1/22

Revenue Impact Analysis from potential Cannabis licensing: Ordinance adopted by Council. 6/15/21

Ordinance providing Revenue Recovery from Mandated EV installations: Ordinance adopted by Council. 1/18/22

Ordinance governing the rental and use of LSV’s and other personal vehicles: Draft Recommendation complete

Revenue Recovery from City Utilities burden of local taxes: Budget adjustments ongoing

Analysis of operational and revenue impacts resulting from Tourism Bus licensing:   Ongoing