Question

For the City of San Mateo, what is the financial policy trend towards alternative taxes.

Answer 1

City government may create a considerable lion's share of their tax incomes from three sources: property, general deals, and individual annual assessments. Extracts on liquor, lager, tobacco, betting, and business assessments are among the alternative tax charges. City governments, then again, are bound to force client charges.

Property duties rule neighborhood charge incomes; joined deals and annual assessments create short of what one-fifth of complete expense accumulations. CITY OF SAN MATEO has approx 55% of absolute tax from property in year 2017-18. To address the huge effects of the Great Recession, the City Council received different techniques for money related supportability that have been effectively executed to accomplish a fair General Fund spending plan, yet additionally make an instrument for the City to aggregate adequate assets to develop itself out from under its once tight hold position, which it has achieved, as confirm by the FY 2017-18 General Fund unassigned reserve balance at 61.3% of General Fund consumptions, including moves out.

The city has used many new fund scheme as to earn as new of alternative sources like

• Low Moderate Income Housing Special Revenue Fund
• Fire Protection Special Revenue Fund
• Gas Tax Special Revenue Fund
• Parking Special Revenue Fund