"MONTEREY - The city of Monterey declared a fiscal emergency to place new tax measures on the ballot this summer. The Monterey City Council met Tuesday, continuing the discussion of the city's $10 million deficit that they are trying to rectify through the 2026-2027 fiscal year budget, which starts in July. The council voted unanimously to declare a fiscal emergency, which city officials said was needed in order to place new tax measures on the ballot."
"The 0.375 cent sales tax is projected to generate about $4.5 million annually. The parking tax is projected to generate between $279,000 and $791,882 annually, depending on implementation and compliance. In a poll of Monterey residents, the survey showed about 57% of residents would vote in favor of a .0375 cent sales tax, over nine years. But only about 44% would vote in favor of a parking tax."
Monterey declared a fiscal emergency to place new tax measures on the ballot this summer. The city faces a $10 million deficit to be addressed through the 2026-2027 fiscal year budget starting in July. The City Council unanimously declared the fiscal emergency and began the process to place a 0.375 cent sales tax on the ballot and to consider a parking tax. The sales tax is projected to generate about $4.5 million annually. The parking tax is projected to generate between $279,000 and $791,882 annually depending on implementation and compliance. A resident poll showed roughly 57% support for the sales tax and 44% support for a parking tax. The Neighborhood and Community Improvement Program listed potential projects that could fund about $3.5 million of the deficit.
Read at The Mercury News
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