FY 2025 Proposed Revenue Enhancements
Updated May 17, 2024
7/1/2024* 1/1/2025* Total For
Consideration
Credit card fees $ 150,000 $ 150,000
Business license back tax & penalties 51,000 51,000 100% fee recovery 250,000 250,000 Old Towne paid parking 475,000 475,000 Parking enforcement citations 1,000,000 1,000,000 Increase STR permits to 250 - 500,000 Expand STR definitions to Include Residential
Rentals of 1-year or less - 500,000 Implement Long-Term Rental Fee 500,000 500,000 Implement Annual Impact Fee for all Residential
Investment Properties ($250)** - 2,500,000 Implement Life Safety Fee (Colleges $25 &
Universities $100)*** 1,309,300 1,309,300 Implement Penalties for Overenrollment (College
$XX & Universities $XX)
Implement a 3- & 4-Star Hotel Incentive Program
or Sales Tax Rebate
Sale or Lease Taft Library 2,700,000 2,700,000 1-time CR&R reimbursement for road mitigation 3,000,000 3,000,000 Total Proposed Additional Revenues $ 4,701,000 $ 4,734,300 $ 9,435,300 $ 3,500,000 *Actual amount may vary depending on when the program starts.
A-FY25 Proposed Revenue Enhancements