CAPE MAY – The first recommendation from Cape May’s advisory committee on municipal revenue and taxation was presented to Cape May City Council at its April 6 meeting.
The committee urged the governing body to raise the municipal occupancy tax, from 2% to 3%,and imposeit on properties engaged in short-term rentals through transient space marketplaces, such as Airbnb.
The council will take the issues up at a May 4 work session, according to Deputy Mayor Stacy Sheehan.
The committee argued the city is losing almost $700,000 a year by not raising the occupancy tax to 3%. The city has never imposed the occupancy tax on transient space rentals.
