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07/06/2020: City of Monterey Changes Hotel Tax Remittance to Monthly to Address Operations and Budget Projections Due to the COVID-19 Pandemic

Finance

  • 6 July 2020
  • Number of views: 1109
07/06/2020: City of Monterey Changes Hotel Tax Remittance to Monthly to Address Operations and Budget Projections Due to the COVID-19 Pandemic

The Covid-19 pandemic is impacting all City of Monterey operations, service levels and budgets. The City is acting rapidly to jumpstart the economy and safely reopen City services and facilities. To that end, effective July 2020, the Finance Director established a shorter reporting period from bi-monthly to monthly to ensure prompt collection of Transient Occupancy Tax (TOT), also known as Hotel Tax, Conference Center Facilities District Tax (CCFD), and Tourism Improvement District Tax ( TID) per City Code section 35-15(b).    

            Moving to a monthly remittance period will provide the City with more timely cash flow and budget data, and help staff make more informed and effective decisions about the ability to reopen facilities, and bring back staff along with the services and programs our residents are used to enjoying.  Also, starting in July, in an effort to streamline operations, the City’s TOT remittance form will be posted online and the City will discontinue mailing TOT forms to operators.  NEWS RELEASE IN PDF

 

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