MTRAC Establishment of a Munici

MTRAC

Establishment of a Municipal Taxation and Revenue Advisory Committee for Cape May

On March 3, 2020 Cape May City Council acknowledged the value of implementing an Advisory Committee to evaluate and recommend potential changes for taxation and revenue development, identified as A Municipal Taxation and Revenue Advisory Committee, Resolution No. 82-02-2020.

In these unprecedented fiscal times, it is more important than ever that Cape May begin to develop fair and effective way to fund its future. For over three months now no progress has been observed to move this Advisory Committee forward.

Council acknowledged the value of this Advisory Committee as illustrated by its unanimous approval. When can the citizens expect this committee’s membership to be named so their all-important work may begin?

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MTRAC January 2024 Status Log

	ISSUE	STATUS
1	Occupancy Tax Revenue Revisions	Ordinance adopted by Council. 6/15/21
2	Fiscal Impact Analysis on Proposed Resolutions & Ordinances	Study Complete; Ordinance Pending
3	Fiscal Policies Defining Employee Stipends	Ordinance adopted by Council 1/18/22
4	Federal Pament in Lieu of Tax (PILOT) for School Fiscal Impact	Resolution adopted by Council 10/19/21
5	Regulations and Appropriate Fees for Seasonal Residential Rentals	Ordinance adopted by Council 2/1/22
5A	Required Annual Analysis and Revision of Municipal Fees:	Ordinance adopted by Council 2/1/22
6	Revenue Impact Analysis from Potential Cannabis licensing	Ordinance adopted by Council 6/15/21
7	Ordinance Governing the Rental and Use of Low Speed Vehicles	Study Complete; Ordinance Pending
8	Revenue Recovery from City Utilities Burden of Local Property Taxes:	Budget Adjustments Ongoing
9	Ordinance providing Revenue Recovery from Mandated EV installations:	Ordinance adopted by Council 1/18/22
10	Public Use of Convention Hall Community Room	Resolution Adopted 10/6/2021
11	Program Based Budgeting	Study Complete; Ordinance Pending
12	Regular Inflationary Adjustments on Mercantile Fee	Study Complete; Ordinance Pending
13	Stable and Sufficient Revenue Stream for Parking Solutions	Study Complete; Ordinance Pending
14	Equitable Shared Service Agreements	Study Underway
15	Business Improvement District (BID) Revenue Enhancements	Study Underway
16	Local Limited Sales Tax	Study Underway
17	Development Impact Fee	Study Underway
	County Budget and Taxation Impact	Study Complete
	Revaluation of Property Tax Base	Study Underway
	Contract Parking Emeters	Study Complete; Resolution Adopted

MTRAC Releases:

MTRAC Home

The Resolution

Recommendation #1 Occupancy Tax.pdf

Recommendation #2 - Fiscal Note.pdf

Recommendation #3 - Stipend Policy.pdf

Recommendation #4 - PILOT.pdf

Recommendation #5 Comprehensive Ordinance.pdf

Recommendation-#6 - Cannabis.pdf

Recommendation-#7 - Personal Vehicles.pdf

Recommendation #8 - Utility Cost Recovery powerpoint.pdf

Recommendation-#9 - EVSE.pdf

Recommendation-#10 - Community Room Resolution.pdf