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CL- 2116 New Business   Item #:   E.    
City Council Regular Meeting
Meeting Date: 05/21/2019  
Subject:    Tax Rate Increases
From: Cynthia Thomasson

COUNCIL ACTION
First Reading:     05/21/2019
Final Adoption:   06/04/2019
SUMMARY
The Fiscal Year 2020 City Council Introductory Budget, as reviewed in prior work sessions, contains recommendations for increases in three tax areas:

An increase in Hotel/Motel Occupancy tax from 7% to 8%.  This increase is estimated to provide an additional $155,000 in FY2020.

A Transient Lodgers Room Occupancy Fee of $2.00 per night.

An increase in Tangible Personal Property Tax from $3.50 per $100 of assessed value to $3.60 per $100 of assessed value.  This increase is estimated to provide an additonal $150,000 in FY 2020.

The Hotel/Motel tax increase and Transient Lodgers Room Occupancy Fee will be effective July 1, 2019. 

The Tangible Personal Property Tax will be effective January 1, 2020.
 
RECOMMENDATION
It is recommended that City Council approve the attached Ordinances increasing and imposing taxes and fees.

Attachments
Ordinance
Ordinance

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