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HomeMy WebLinkAbout2023-10-24; City Council; ; Potential Transient Occupancy Tax IncreaseCA Review _AF_ Meeting Date: Oct. 24, 2023 To: Mayor and City Council From: Scott Chadwick, City Manager Staff Contact: Laura Rocha, Deputy City Manager, Administrative Services laura.rocha@carlsbadca.gov, 442-339-2415 Zach Korach, Director of Finance zach.korach@carlsbadca.gov, 442-339-2127 Subject: Potential Transient Occupancy Tax Increase Districts: All Recommended Actions Receive a report requested by the City Council regarding a potential increase of the city’s transient occupancy tax rate and provide feedback and direction on next steps, if any. Executive Summary The City of Carlsbad prides itself on providing a high level of service to the community, from well-maintained infrastructure to dedicated police, fire and emergency services, beautiful parks and a wide array of programs and events that support an excellent quality of life. To sustain this high level of service, the city must ensure annual costs do not exceed the revenues the city receives each year to fund these services. One way the city’s Finance Department monitors the city’s fiscal health is by forecasting projected spending and revenues over a five-to-10-year period. In spring 2021, when presenting the proposed fiscal year 2021-22 city budget to the City Council, finance staff identified a potential structural deficit beginning in fiscal year 2025-26. A structural deficit means that projected ongoing spending exceeds projected ongoing revenues. Identifying a possible structural deficit early allows the city to reduce ongoing spending, bring in new revenues, or both, to maintain long term fiscal sustainability. The City Council directed staff to research options to generate additional revenue, while the City Manager worked with all city departments to identify ways to reduce ongoing spending without affecting the high level of service expected by the community. The following spring, on April 20, 2022, city staff presented the findings of the revenue study, which showed a 1% sales tax increase would generate the highest amount of new ongoing revenue and was supported by a majority of Carlsbad voters. The study also noted that the city could lose the opportunity to ask voters for a sales tax increase if the state, the county or the San Diego Association of Governments pass their own sales tax measures. This is because state Oct. 24, 2023 Item #7 Page 1 of 17 law limits the total amount of sales tax imposed in each county, and several local jurisdictions have already passed their own sales tax measures. The revenue study presented in April 2022 also identified a transient occupancy tax increase as a potential new source of revenue. This is a tax paid by visitors staying in Carlsbad hotels and short-term vacation rentals. Staff did not recommend this option because a 1% TOT increase would generate about $3 million to $3.5 million a year in additional revenue compared to a 1% increase in sales tax, which would generate about $40 million a year. On April 4, 2023, city staff provided a financial update to the City Council, which showed that a structural deficit was still projected starting in fiscal year 2025-26. Staff reviewed steps taken to reduce city spending by finding efficiencies and other operational changes with minimal effect on the community and reviewed potential future revenue sources. At that time, the City Council asked staff to explore a transient occupancy tax increase, including getting feedback from lodging providers, and return with more information and options for placing a transient occupancy tax increase on the November 2024 ballot. Staff have completed this research, the findings of which are presented in this report. Explanation & Analysis Background City staff presented information to the City Council in spring 2021 showing a potential General Fund structural deficit beginning in fiscal year 2025-26 and continuing into future years. The City Council then asked staff to research potential new sources of revenue to address the potential deficit. Staff completed a revenue study, which was presented to the City Council April 20, 2022. On April 4, 2023, city staff provided another overview of the city’s fiscal condition, which continued to show a potential future General Fund structural deficit beginning in fiscal year 2025-26. At that meeting, city staff presented several options to address the city’s ongoing fiscal health, including increasing efficiency, increasing fees to cover the true cost of services, reducing city services, and asking voters to approve a parcel, sales or transient occupancy tax increase. The City Council asked staff to continue to work to find more efficiencies and voted to direct staff to place an item on a future City Council agenda with more information regarding a potential transient occupancy tax increase. The City Council directed staff to evaluate the pros and cons, consider the potential for unintended consequences, gather feedback from tourism industry representatives, and research the procedural steps, cost and timeline for placing a measure on the November 2024 general election ballot for voters to decide. Updated fiscal forecast Sales and transient occupancy tax revenues have rebounded over the last two years due to unprecedented inflationary increases sustained by pent-up demand from the COVID-19 pandemic. During this same timeframe, all city departments have found new ways to reduce ongoing General Fund spending, which has helped mitigate the budget impact of rising costs of goods and services due to inflation. Oct. 24, 2023 Item #7 Page 2 of 17 The city’s financial forecast now shows a structural deficit first appearing in fiscal year 2028-29, three years later than in previous forecasts. While this outcome is good for the city’s short term financial picture, it’s considered to be unique, one-time in nature. Revenues are expected to increase on average by 2.5% annually over the next 10 years, while expenditures are expected to increase on average by 4.0% annually, meaning the city’s structural deficit has been delayed, not eliminated. 10-year forecast Rising costs Several factors contribute to anticipated increases in expenditures: •Aging infrastructure, decreasing developer fees o As the city approaches a time when most of the major new development has occurred, revenue from development fees will decrease significantly. o City infrastructure, originally funded by those fees, is now aging and needs maintenance or replacement. •New community facilities and amenities o The fiscal year 2023-24 Adopted Capital Improvement Program Budget included $97.7 million in new appropriations, with a total of $798 million planned to fund 245 projects over the next 15 years. o In addition to the cost to build these projects, many will require ongoing costs to operate and maintain. These include Veteran’s Memorial Park, Robertson Ranch Park, Fire Station 7 and the Monroe Street Pool. •Increasing population, denser housing o Carlsbad’s caps on growth are no longer enforceable due to new state housing laws. This means Carlsbad’s population will continue to increase, along with the need to provide services to more people. Oct. 24, 2023 Item #7 Page 3 of 17 o To provide Carlsbad’s share of regional housing needs, most of the new development will be apartments and condominiums, which do not provide as much property tax revenue as single-family homes. • Trends in other costs o The cost of compensation required to attract and retain city employees and increasing claims against the city (general and workers’ compensation-related) have increased. The financial forecast utilizes recent cost trends to forecast future costs. Reducing ongoing spending As detailed in the staff report presented to the City Council April 4 (Exhibit 1), the city has taken many prudent steps to reduce operational costs and better align the city budget with City Council priorities. This has included eliminating department contingency budgets, reducing department budgets based on historical savings and implementing more efficient and cost- effective ways of providing services. Over the past two years, city staff have reduced ongoing operating expenses between 2% and 3% during a time when inflation was between 6% and 8%. Any additional reductions to ongoing spending would likely require reductions in city services that could be noticeable to the community. If additional spending reductions are needed to address the structural deficit, staff will disclose any anticipated public impacts so the City Council can make an informed decision. Revenue enhancement options Cities have several options to consider in determining how best to close an anticipated funding gap, including postponing major new projects, finding more efficient ways to deliver services, eliminating services that aren’t core to the city’s mission and expanding the revenue base. In 2021, the City Council directed staff to study potential new sources of revenue. City staff hired a firm specializing in municipal revenue studies and strategy, Terris Barnes Walters Boigon Heath Lester Inc., or TBWBH Props & Measures, to identify and assess revenue enhancement options for the City of Carlsbad. The firm’s findings and recommendations were presented to the City Council on April 20, 2022. A couple of the report’s key findings and observations were that: • The majority (58%) of Carlsbad voters would either “definitely” or “probably” support a 1 cent-on-the-dollar sales tax measure. • Voters’ priorities include: o Maintaining parks, open spaces and recreation facilities o Maintaining streets and roads o Keeping trash and pollution out of waterways and off beaches o Keeping public areas and facilities clean and graffiti-free o Providing adequate 911 emergency response and fire protection and prevention. • Legalizing and taxing recreational cannabis sales was not supported by a majority of Carlsbad residents. Oct. 24, 2023 Item #7 Page 4 of 17 As noted previously, other types of revenue enhancements available to the city include, but are not limited to, increasing transient occupancy tax, levying a parcel tax and establishing financing districts. Transient occupancy tax Transient occupancy taxes are assessed on occupants of hotel, motels, resorts and short-term vacation rentals in Carlsbad. These revenues comprise approximately 15% of the city’s General Fund revenues and totaled $34.3 million in FY 2022-23. Carlsbad’s transient occupancy tax rate is 10% and has not been increased since 1990. The City Council could decide to ask voters to increase this tax. Each 1% increase is projected to generate an additional $3 million to $3.5 million in General Fund revenue each year. The chart below shows a 2% increase in transient occupancy tax would postpone by one year the beginning of a structural deficit and reduce the overall amount of the deficit in future years. Forecast showing effect of 2% transient occupancy tax Lodging-based assessments Some cities impose assessments on lodging businesses to pay for marketing activities for the city as a destination or for other services that benefit the businesses. Carlsbad has two such assessments: • All overnight stays are subject to a 2% assessment through the Carlsbad Tourism Business Improvement District. Oct. 24, 2023 Item #7 Page 5 of 17 •Businesses may choose to opt into the 1% per room night assessment collected through the Carlsbad Golf Lodging Business Improvement District.1 Because a city might impose a transient occupancy tax as well as such assessments, a city’s all- in combined rate of both lodging tax and assessments provides a more meaningful basis for comparison than simply comparing the tax rates. Analysis of competitive cities After consulting with local tourism industry stakeholders, notably from the destination marketing association Visit Carlsbad, staff researched the transient occupancy tax and lodging- based assessments of 10 Southern California cities that are competitive with Carlsbad from a tourism perspective. This was essential to understand and measure the possible implications a transient occupancy tax increase might have on Carlsbad’s’ competitiveness as a tourism destination. The cities are: •Anaheim •Coronado •Dana Point •Huntington Beach •Laguna Beach •Newport Beach •Oceanside •San Diego •Santa Barbara •Santa Monica Comparing Carlsbad to other destination cities in Southern California rather than to only other San Diego County cities is useful because groups looking for locations for conferences or events might weigh Carlsbad against other popular tourist destination cities in the broader region or beyond and may be more sensitive to cost than individual travelers. Nearby coastal cities such as Oceanside, San Diego and Coronado are naturally competitive because of the regional nature of tourism, and travelers intending to visit Southern California often evaluate several options in the region before choosing one. Other Southern California cities, such as cities like Anaheim, Santa Monica, Newport Beach, and Santa Barbara, were included based on similarities in the attributes that determine competitiveness in the hospitality and tourism sector. For example, Carlsbad has more than 5,000 available rooms, far more than any other city in North County. Large groups and conferences that require large numbers of rooms will compare Carlsbad with other cities with similar or greater capacity. 1 All assessment funds go to benefit hotel and lodging businesses in the city in the form of marketing, grants and special programs. City services are not funded by the additional assessment on hotels, which has been approved by a majority of hotel and lodging businesses in Carlsbad. Oct. 24, 2023 Item #7 Page 6 of 17 Other factors in selecting the cities used for comparison were: • Average daily room rate • Variety in lodging and venue options • Coastal Southern California location • Proximity to major airports • Range of community attractions and available amenities. In terms of the all-in lodging tax/assessment rate, Carlsbad stands at 12%-13%, depending on whether a property chooses to be a part of the voluntary golf assessment as part of the Carlsbad Golf Tourism Business Improvement District. The table on the following page shows the all-in rate, the transient occupancy tax rate, the type of tourism-related special district (if any), any add-on assessments and the sales tax of the 10 cities selected for comparison. Oct. 24, 2023 Item #7 Page 7 of 17 Current tourism-related taxes in comparison cities City All-in rate Transient occupancy tax Tourism-related district Add-on/ Assessments1 Sales tax Anaheim 17% 15% Tourism Improvement District 2% 7.75% Santa Monica 15%-17.1% Hotel: 15%- 17.1% n/a Add-on from $2 to $6.50, depending on room rate 10.25% Short-term rentals: 17%-19.1% Santa Barbara 14% 12% Tourism Marketing District 2% 8.75% Laguna Beach 14% 12% Tourism Marketing District 2% 7.75% Huntington Beach 14% 10% Tourism Business Improvement District 4% 7.75% Newport Beach 13% 10% Tourism Business Improvement District 3% 7.75% Oceanside 13% 10% Tourism Business Improvement District 2.5% until 2025 8.25% San Diego 12.5% 10.5% Tourism Marketing District 2% (70+ rooms) 7.75% Carlsbad 12% 13% opt-in 10% Carlsbad Tourism Business Improvement District 2% 7.75% Carlsbad Golf Lodging Business Improvement District 1% (opt-in) San Diego 12.5% 10.5% Tourism Marketing District 2% (70+ rooms) 7.75% Coronado 11% 10% Tourism Business Improvement District 1% 7.75% Dana Point 10.5%-11% 10% Tourism Improvement District $3 per room night 7.75% 1. Nightly room rate Oct. 24, 2023 Item #7 Page 8 of 17 With its current transient occupancy tax rate, Carlsbad’s all-in rate ranks in the bottom third of those in the cities selected for comparison. With a transient occupancy tax increase of 2%, the all-in lodging tax/assessment rate for properties – not including golf properties – would rise to 14%. This would align Carlsbad with the rates in the middle of the competitive set, like those in Huntington Beach, Laguna Beach and Santa Barbara. With a transient occupancy tax increase of 4%, Carlsbad would align with rates in cities at the higher end of the competitive set, like those in Santa Monica and Anaheim. Hospitality, lodging and tourism industry feedback Staff are regularly engaged with the hotel and lodging industry and seek feedback to maintain a vibrant industry. In addition to the normal course of engagement, staff held two research sessions with industry representatives. All 42 Carlsbad hotel and lodging businesses were notified at least three times through direct outreach to hotel owners or general managers. The two engagement sessions were held on Oct. 16. Staff presented an overview on the City Council direction to staff to research a transient occupancy tax measure, the city’s fiscal status, research related to Carlsbad competitiveness in tourism, and the effect of such a measure. Hotel industry participants had an opportunity to provide input on the topic. Three industry representatives attended the sessions, including the two largest generators of transient occupancy tax receipts, LEGOLAND California Resort and the Omni La Costa Resort & Spa. The President and CEO of Visit Carlsbad also attended. Feedback from industry stakeholders on the potential transient occupancy tax increase in Carlsbad covered several key themes: There is notable concern about Carlsbad’s competitiveness in the group tourism sector, which is a key driver of the industry’s success and subsequent revenue generation in non-summer months. Large group bookings not only benefit the hosting hotel but also drive higher demand and occupancy in nearby properties. The industry stakeholders noted that some cities that have increased their transient occupancy tax have used a portion of the funds to support tourism-related activities or have amenities such as a convention center that help maintain their competitiveness. The point was that putting part of a transient occupancy tax increase toward efforts that support tourism could enhance its appeal and mitigate the increase’s impact on their businesses. More than one participant noted that when juxtaposed with San Diego, which would have a lower transient occupancy tax rate and boast proximity to the airport and other amenities, Carlsbad's position would become less competitive for attracting larger groups. The perception is that this would be further exacerbated by the fact that all Carlsbad hotels with group space already voluntarily contribute an additional 1% through the golf assessment, making their cumulative rate even higher. They also noted that group occupancy in Carlsbad has not fully rebounded since 2019, lagging by four percentage points. The participants did not comment on the potential impact to leisure travelers. The financial implications of the proposed TOT increase were also highlighted. Stakeholders noted the costs associated with placing the measure on the ballot and its minimal impact on Oct. 24, 2023 Item #7 Page 9 of 17 the city's budget. Some suggested that a sales tax might be a more effective and equitable solution because it would distribute the tax burden more broadly, impacting both residents and visitors, all of whom use city services and infrastructure. They underscored the data that showed that even a modest sales tax increase could generate substantially more revenue than a transient occupancy tax increase. Finally, the industry stakeholders called for updated city polling to gauge public sentiment on potential revenue measures, including alternatives, such as a sales tax increase. City staff also engaged representatives of the local business community, Chamber of Commerce and Visit Carlsbad, who expressed similar concerns. Anticipated revenue and performance outcomes Staff identified increases in sales tax, transient occupancy tax, and/or lodging-based assessments in the comparable cities that were adopted since 2010. Staff then collected transient occupancy tax and sales tax revenue data for the one year before the increase and for four years after the increase – where available – to determine whether any negative impacts on the lodging/tourism industry could be attributed to the tax and/or assessment increases. Exhibit 2 shows the transient occupancy tax revenue in the 10 comparable cities before and after tax and/or lodging-based assessment increases. Exhibit 3 shows the sales tax revenue in the comparable cities before and after such increases. These analyses show no evidence of these increases in lodging-based taxes or assessments curtailing the transient occupancy tax or sales tax revenues generated in any of the comparable cities. The only downward turns in transient occupancy and/or sales tax revenues noted were those occurring during either the Great Recession (fiscal year FY 2010-11) or the COVID-19 pandemic (FY 2019-20 and FY2020-21). Transient occupancy tax evaluation Cities considering options to enhance General Fund revenue often use established evaluation criteria to evaluate their options. These criteria are listed below, followed by staff’s evaluations of a potential transient occupancy tax measure: Adequacy and certainty – Does the option sustainably generate annual needed revenue? Is the option subject to significant variation? •A 1% increase in the city’s transient occupancy tax rate is expected to generate $3 million to $3.5 million in General Fund revenue each year. Research shows that variability in transient occupancy revenue generation correlates to the broader economic trends that impact the tourism industry. When the economy is strong, leisure, group and corporate travel is strong; however, the opposite is typically true when the economy is weak, so transient occupancy tax revenues will likely fluctuate with changes in the economy. Equity and fairness – Is the fiscal burden appropriately spread and proportionate to surrounding communities? Does the option avoid highly skewed economic incentives? Oct. 24, 2023 Item #7 Page 10 of 17 • The city has added several new or expanded city operations and services in recent years, which directly benefit the local hospitality and tourism industry. • The following is a partial list, which includes new investments in public safety, community services and sustainability. Public safety o Homeless Response Program o Police body worn cameras o Beach lifeguard program o Trail ranger program o Lagoon patrol (on-water) o Expanded public health role (due to pandemic) Community services o New community special events o New and expanded park amenities o Intergenerational Parks & Recreation programs o Expanded city arts and culture programs Sustainability o Community Choice Energy electrical service o New environmental initiatives o Sustainable Mobility Program • The hospitality and tourism industry activity has a direct and proportionate impact on city infrastructure and demand for city operations and services, such as streets, parks, and public safety, which includes police and fire protection, lifeguards and homelessness response and services. • Constructing, operating and maintaining city capital improvement projects directly benefits the hospitality and tourism industry by making the city more attractive to visitors. Transparency – Is information on revenue and the tax system and how it operates easy to find and understand? • While there is a degree of complexity in the taxes and assessments applied to lodging in Carlsbad, as discussed above, this information is readily accessible and clearly communicated on the city’s website and can be found on most hotel and booking websites and is relatively simple to understand for both operators and visitors. Simplicity – Does the option require multiple ballot measures (potentially causing voter confusion and fatigue)? Would the option be highly burdensome, costly, or complicated to administer (by the city of those who pay the assessment)? • A general transit occupancy tax increase could be accomplished with a single ballot measure and passed by a simple majority vote. Assessing an increased transit occupancy tax rate would have no significant administrative impact. Oct. 24, 2023 Item #7 Page 11 of 17 Ballot measure process A two-thirds vote of the City Council, – four out of five – would be required to place any local tax measure on the ballot. In California, all taxes imposed by local governments are classified as either general or special taxes and must be put before voters as local ballot measures for approval. •A general tax is any tax levied to fund general government purposes and which goes into the local government entity's general fund. General taxes must be approved by a simple majority of voters (50% plus one vote), and must be put before voters at a regular, general election. •A special tax is any tax levied for a specific purpose such as transportation, fire or police safety, parks and recreational facilities or homeless services. Special taxes must be approved by a two-thirds supermajority of voters. It would be up to the City Council to decide whether any potential increase in the transient occupancy tax would be a general tax or a special tax. The deadline for submitting a resolution to the County Registrar of Voters requesting a measure to be placed on the Nov. 5, 2024, general election ballot is Aug. 9, 2024. Additional steps Should the City Council decide to direct staff to further explore placing a transient occupancy tax measure on the ballot, staff recommend the following steps: Phase 1 (three months) •Develop impartial informational messaging and a plan for engaging key audiences, including leaders in the local hospitality/tourism industry, and others who may perceive their business to be directly impacted by a potential transient occupancy tax measure •Prepare answers to frequently asked questions •If it’s deemed necessary, design and conduct a scientific opinion survey of likely voters to assess feasibility of the proposed ballot measure •Conduct a demographic analysis of Carlsbad voters •Analyze past election results to understand voter turnout trends and other relevant voting patterns •Research other local tax proposals that may be heading to the ballot that could compete with the proposed measure •Develop recommendations regarding the optimal election date, ballot language, and other important ballot measure features. Costs o $7,500 a month for consultant services for three months $22,500 o Scientific survey of likely voters (if needed)$30,000 Total: $52,500 Oct. 24, 2023 Item #7 Page 12 of 17 Phase 2 (three months) • Develop impartial informational content for city website, social media and newsletters, including a public-facing fact sheet, talking points and presentations for the public • Produce and distribute impartial informational materials to educate and inform voters on the city’s funding needs • Develop strategies and plans to inform internal and external stakeholder groups, including elected and appointed leaders, employee groups, business leaders, neighborhood leaders, faith community leaders, taxpayer groups and others • Finalize ballot measure features, including the proposed tax rate, structure and duration of the proposed tax, and the types of programs and services to be funded • Work with the City Attorney to consider potential taxpayer accountability protections, such as independent public oversight and public reporting, and develop the ballot question • Develop the resolutions and ordinances required for calling the election • Present recommendations and documents to the City Council for its approval Costs o $7,500 a month for consultant services for three months $22,500 o Mailings and informational advertising (estimated) $25,000 Total: $47,500 Staff have obtained a proposal from Team CivX, a consultant firm operated by one of the former principals at TBWBH Props & Measures, the firm that assisted the city in conducting previous sales tax measure research efforts in 2021. Upon the City Council’s direction, staff are prepared to engage Team CivX to assist with the scope of work generally described above at a cost not to exceed $100,000. Fiscal Analysis Completing the tasks outlined above is estimated to cost up to $100,000. The General Fund’s non-departmental contingency has sufficient funds available to cover this amount. The Registrar of Voters has provided a cost projection of $135,000 - $175,000 for a measure to appear on the November 2024 general election ballot. If the City Council decides to place a ballot measure on a ballot, funding authorization for the associated cost would be requested at that time. Each 1% increase in the city’s current transient occupancy tax rate, if approved, would generate an additional $3 million-$3.5 million annually. The additional revenue generated would positively impact the city’s forecast, however, it would only delay the timing for which total expenditures eventually exceed total revenues by one to two fiscal years. Oct. 24, 2023 Item #7 Page 13 of 17 Options Staff are requesting that the City Council consider the city’s financial outlook and the analysis above and provide feedback and direction on any desired next steps. Options for the City Council include, but are not limited to: 1. Take no further action at this time. 2. Direct staff to engage consultant resources to complete the Phase 1 scope of work outlined above, to evaluate the feasibility of passing a transit occupancy tax measure and return to the City Council for further direction. This is a necessary step to place a transient occupancy tax on the ballot, but would not commit the City Council to doing so. 3. Provide other direction as desired. Next Steps Staff will carry out the City Council’s direction with the appropriate steps, as described above. Environmental Evaluation In keeping with California Public Resources Code Section 21065, this action does not constitute a project within the meaning of the California Environmental Quality Act in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. Exhibits 1. Financial status update staff report - April 4, 2023 (on file in the Office of the City Clerk) 2. Transient occupancy tax revenue generation in comparable cities before and after tax and/or lodging-based assessment increases 3. Sales tax revenue generation in comparable cities before and after tax and/or lodging-based assessment increases Oct. 24, 2023 Item #7 Page 14 of 17 Exhibit 1 Financial status update staff report - April 4, 2023 (on file in the Office of the City Clerk) Oct. 24, 2023 Item #7 Page 15 of 17 Exhibit 2 City Tax/assessment increase Notes TOT revenue one year before increase TOT revenue one year after increase TOT revenue two years after increase TOT revenue three years after increase TOT revenue four years after increase Anaheim Tourism Improvement District established - 2010 Collects 2% assessment on hotel rooms in distirct $80,055,000 $82,605,000 $90,376,000 $102,936,000 $110,134,000 Golf Lodging Business Improvement District established - 2012 Voluntary $2 per room-night assessment on participating businesses (in addition to $1/room-night assessment from Tourism Business Improvement District) $26,386,000 $29,301,000 $31,464,000 $33,202,000 $35,232,000 Tourism Business Improvement District assessment increased - 2020 Raised from $1 per room- night to 2%$18,829,684 $32,356,591 $34,232,023 FY22-23 not available Not available TOT increased - 2012 Raised from 8% to 10% $8,902,884 $12,442,925 $13,763,729 $13,818,817 $14,577,717 Coronado Tourism Improvement District assessment increased - 2015 Raised from 0.5 to 1%$12,442,925 $13,818,817 $14,577,717 $15,264,023 $15,650,765 Dana Point Number of hotels participating in Tourism Investment District increased - 2019 Increased from four hotels to 11 $13,653,000 $10,686,000 $8,747,000 $16,195,000 FY22-23 not available Huntington Beach Tourism Business Improvement District assessment increased - 2019 Raised from 3% to 4%$8,810,000 $10,763,000 $9,253,000 $15,754,000 FY22-23 not available TOT increased - 2017 Raised from 10% to 12%$10,754,654 $14,708,047 $14,649,273 $11,939,790 $15,252,045 Tourism Business Improvement District established - 2020 Collects 2% assessment on hotel rooms $14,649,273 $15,252,045 $21,111,332 FY22-23 not available FY22-23 not available Tourism Business Improvement District assessment increased - 2014 Raised from 2% to 3%$16,500,285 $20,369,158 $21,083,199 $22,382,361 $22,857,737 Number of hotels participating in district increased - 2018 $22,382,361 $24,697,446 $21,097,384 $16,886,197 $26,677,331 Oceanside Sales tax increased - 2019 Raised by 0.5% $7,944,470 $7,359,497 $9,282,023 $14,841,517 FY22-23 not available San Diego No increases N/A N/A N/A N/A N/A Santa Barbara Sales tax increase approved 2017 Increased by 1%$22,379,000 $22,650,000 $23,421,000 $18,168,000 $18,807,000 Santa Monica Sales tax increased - 2016 (TOT increased 3/1/2023, no data available) Sales tax raised by 0.5% (TOT raised from 14% to 15% on hotels, from 14% to 17% on short term rentals) $51,021,000 $60,631,000 $60,763,000 $48,625,000 $20,692,000 Carlsbad* * Carlsbad Golf Lodging Business Improvement District's voluntary assessment increased from $2 per room-night to 1% in July 2023. Revenue data not yet available. Transient occupancy tax revenue generation in comparable cities before and after tax and/or lodging-based assessment increase Coronado Newport Beach Laguna Beach Oct. 24, 2023 Item #7 Page 16 of 17 Exhibit 3 City Tax/assessment increase Notes Sales tax revenue one year before increase Sales tax revenue one year after increase Sales tax revenue two years after increase Sales tax revenue three years after increase Sales tax revenue four years after increase Anaheim Tourism Improvement District established - 2010 Collects 2% assessment on hotel rooms in distirct $57,449,000 $55,034,000 $58,589,000 $62,793,000 $68,581,000 Golf Lodging Business Improvement District established - 2012 Voluntary $2 per room-night assessment on participating businesses (in addition to $1/room-night assessment from Tourism Business Improvement District) $26,386,000 $29,301,000 $31,464,000 $33,202,000 $35,232,000 Tourism Business Improvement District assessment increased - 2020 Raised from $1 per room- night to 2%$36,491,172 $49,794,348 $54,747,787 FY22-23 not available Not available TOT increased - 2012 Raised from 8% to 10% $2,746,600 $3,258,208 $3,493,272 $4,041,392 $3,338,149 Coronado Tourism Improvement District assessment increased - 2015 Raised from 0.5 to 1%$3,258,208 $4,041,392 $3,338,149 $3,383,032 $3,602,816 Dana Point Number of hotels participating in Tourism Investment District increased - 2019 Increased from four hotels to 11 $5,385,000 $5,383,000 $5,294,000 $7,062,000 FY 22-23 not available Huntington Beach Tourism Business Improvement District assessment increased - 2019 Raised from 3% to 4%$33,844,000 $44,616,000 $51,162,000 $57,652,000 FY22-23 not available TOT increased - 2017 Raised from 10% to 12%$5,345,953 $6,124,970 $6,581,928 $5,583,948 $6,023,953 Tourism Business Improvement District established - 2020 Collects 2% assessment on hotel rooms $6,581,928 $6,023,953 $7,980,085 FY 22-23 not available NA Tourism Business Improvement District assessment increased - 2014 Raised from 2% to 3%$20,764,204 $24,832,412 $33,937,986 $33,702,895 $36,373,253 Number of hotels participating in district increased - 2018 $33,702,895 $37,168,063 $36,232,969 $38,956,275 $46,164,860 Oceanside Sales tax increased - 2019 Raised by 0.5% $22,671,661 $37,051,162 $43,376,175 $48,981,222 FY 22-23 not available San Diego No increases N/A N/A N/A N/A N/A Santa Barbara Sales tax increase approved 2017 Increased by 1%$21,932,000 $25,203,000 $48,603,000 $44,465,000 $49,770,000 Santa Monica Sales tax increased - 2016 (TOT increased 3/1/2023, no data available) Sales tax raised by 0.5% (TOT raised from 14% to 15% on hotels, from 14% to 17% on short term rentals) $54,803,000 $68,480,000 $73,709,000 $64,666,000 $64,302,000 * Carlsbad Golf Lodging Business Improvement District's voluntary assessment increased from $2 per room-night to 1% in July 2023. Revenue data not yet available. Carlsbad* Sales tax revenue generation in comparable cities before and after tax and/or lodging-based assessment increase Coronado Laguna Beach Newport Beach Oct. 24, 2023 Item #7 Page 17 of 17 Transient Occupancy Tax October 24, 2023 Jason Haber, Intergovernmental Affairs Director Zach Korach, Finance Director Matt Sanford, Economic Development Manager 1 ITEM 7: POTENTIAL TOT INCREASE RECOMMENDED ACTION Receive a report requested by the City Council regarding the potential placement of a transient occupancy tax measure for the Nov. 5, 2024, general election ballot and provide feedback and direction on next steps if any. 2 •Background •Updated financial forecast •Research findings on potential transient occupancy tax increase •Options for next steps OVERVIEW 3 ITEM 7: POTENTIAL TOT INCREASE FINANCIAL HEALTH 4 ITEM 7: POTENTIAL TOT INCREASE 5 •Financial forecast provides early indicators of needed adjustments •Provides city with time to explore options, make thoughtful decisions •Part of the city’s long-term approach to financial sustainability FORECAST 6 ITEM 7: POTENTIAL TOT INCREASE TIMELINE 7 May 2021 Staff presents forecast showing structural deficit starting in FY 25/26 City Council directs staff to research potential sources of new revenue April 2022 April 2023 Staff provide findings of revenue study No additional action Staff presents updated forecast showing structural deficit starting in FY 25/26 City Council directs staff to research potential transient occupancy tax increase October 2023 Staff presents updated forecast and findings of TOT research WHAT’S CHANGED? •Aging infrastructure, decreasing developer fees •New programs and services •New community facilities and amenities •Increasing population, denser housing •Other costs trending upward 8 ITEM 7: POTENTIAL TOT INCREASE STEPS TO ADDRESS DEFICIT •Increase efficiency •Grant funding opportunities •Reduce or eliminate nonessential services •Cost recovery •Reduce service levels •Ask voters if they want to approve new revenue sources 9 ITEM 7: POTENTIAL TOT INCREASE 10 Inflation 6.4% Proposed General Fund M&O Budget 0.7% 11 12 $3.5 M -3.8 M -$5 M $800,000 FY 25-26 FY 26-27 FY 24-25FY 23-24 JUNE 2022 FORECAST FY 22-23 $460,000 $9.4 M $5.8 M 13 $3.5 M $13.2 M -$4.2 M FY 25-26 FY 26-27FY 24-25FY 23-24 FY 27-28 $1.9 M FY 28-29 OCT 2023 FORECAST CURRENT 10-YEAR FINANCIAL FORECAST 14 STEPS TO ADDRESS DEFICIT Underway and continuing •Increase efficiency •Grant funding opportunities •Reduce or eliminate nonessential services •Cost recovery Other steps •Reduce service levels •Ask voters if they want to approve new revenue sources 15 ITEM 7: POTENTIAL TOT INCREASE REVENUE OPTIONS 16 WHAT OTHER CITIES HAVE DONE 17 18 WHAT OTHER CITIES HAVE DONE No tax measures passed in past 15 years Tax measures passed in past 15 years APRIL 4, 2023 CITY COUNCIL DIRECTION •Staff were directed to research a TOT rate increase including: o Impact on the tourism industry o Effect on the city budget •Staff have researched: o The effect of changes in TOT on competitor city budgets o The TOT rate of competitor cities o The impact on competitiveness, if any, on peer cities that have increased TOT o Cost and process to place measure on November 2024 ballot 19 CARLSBAD ECONOMIC MIX •Carlsbad’s GRP is $16.6B •Five Key Industries –Cleantech –Life Sciences –Sports and Active Lifestyle –Tech –Tourism •Tourism represents approximately $1.1B of Carlsbad’s GRP 20 CARLSBAD HOTELS AND LODGING ESTABLISHMENTS Carlsbad is home to •42 Hotels and Loding Establishments in the City •417 Short Term Vacation Rentals 21 TOURISM TREND 22 TOURISM TREND 23 WHAT SETS CARLSBAD APART •Sense of place •Pride in look, feel, and infrastructure •Understanding the value of the experience for residents, workers, and visitors •Comfort to go out and enjoy amenities •Mobility options •Safety •Streets, roads, public safety, recreation, and events 24 OUR COMPETITION Factors include: •Geography (Southern California) •Mix of available lodging options •Total capacity of lodging establishments in the city •Nearby amenities •Proximity to major infrastructure like airports 25 OUR COMPETITION 26 COMPETITIVE POSITION - TOT City All-in rate Base TOT Rate Anaheim 17%15% Santa Monica 15%-17.1%15% Santa Barbara 14%12% Laguna Beach 14%12% Huntington Beach 14%10% Newport Beach 13%10% Oceanside 13%10% San Diego 12.5%10.5% Carlsbad 12%10% Coronado 11%10% Dana Point 10.5%-11%10% 27 TOT INCREASE SCENARIOS POSITION City All-in rate Base TOT Rate Percent Increase Revenue Anaheim 17%15% Santa Monica 15%-17.1%15% Santa Barbara 14%12% Laguna Beach 14%12% Huntington Beach 14%10% Newport Beach 13%10% Oceanside 13%10% San Diego 12.5%10.5% Carlsbad 12%10%0%$0 Coronado 11%10% Dana Point 10.5%-11%10% 28 TOT INCREASE SCENARIOS POSITION City All-in rate Base TOT Rate Percent Increase Revenue Anaheim 17%15% Santa Monica 15%-17.1%15% Santa Barbara 14%12% Laguna Beach 14%12% Huntington Beach 14%10% Newport Beach 13%10% Oceanside 13%10% Carlsbad 13%11%1%$3m San Diego 12.5%10.5% Coronado 11%10% Dana Point 10.5%-11%10% 29 TOT INCREASE SCENARIOS POSITION City All-in rate Base TOT Rate Percent Increase Revenue Anaheim 17%15% Santa Monica 15%-17.1%15% Santa Barbara 14%12% Laguna Beach 14%12% Huntington Beach 14%10% Carlsbad 14%12%2%$6m Newport Beach 13%10% Oceanside 13%10% San Diego 12.5%10.5% Coronado 11%10% Dana Point 10.5%-11%10% 30 TOT INCREASE SCENARIOS POSITION City All-in rate Base TOT Rate Percent Increase Revenue Anaheim 17%15% Santa Monica 15%-17.1%15% Carlsbad 15%13%3%$9m Santa Barbara 14%12% Laguna Beach 14%12% Huntington Beach 14%10% Newport Beach 13%10% Oceanside 13%10% San Diego 12.5%10.5% Coronado 11%10% Dana Point 10.5%-11%10% 31 TOT INCREASE SCENARIOS POSITION City All-in rate Base TOT Rate Percent Increase Revenue Anaheim 17%15% Carlsbad 16%14%4%$12m Santa Monica 15%-17.1%15% Santa Barbara 14%12% Laguna Beach 14%12% Huntington Beach 14%10% Newport Beach 13%10% Oceanside 13%10% San Diego 12.5%10.5% Coronado 11%10% Dana Point 10.5%-11%10% 32 COMPETITOR CITIES THAT RAISED TOT •Cities that have raised TOT did not see an impact to their TOT revenue in the near nor long-term •Cities that added a tourism focused assessment did not see a negative impact to their TOT revenue and instead saw growth •TOT revenue was impacted by COVID-19 in all competitor cities 33 INDUSTRY INPUT •Group travel is most sensitive to price shock •Other cities could use a TOT differential to their competitive advantage •Other cities use a portion of TOT in addition to a tourism assessment to support tourism •A sales tax increase would be more equitable with residents, visitors, and the tourism industry all contributing •New polling should be done to look at sentiment for TOT increase in comparison with other revenue areas, like Sales Tax 34 PROCESS FOR A BALLOT MEASURE •A two-thirds vote of the City Council (4 votes) is required to place any local tax measure on the ballot •General tax requires 50% + 1 vote to pass •Special tax requires a two-thirds vote to pass •Deadline for submitting measure for Nov. 5, 2024, ballot: August 9, 2024 •San Diego Registrar of Voters estimated cost: $135K -$175K 35 PROCESS FOR A BALLOT MEASURE •Phase 1: Ballot Measure Feasibility (3 months) •Develop impartial informational messaging and stakeholder engagement plan •Research and assess feasibility •Research competing measures •Develop and present recommendations: optimal election date, ballot measure language & features •Estimated cost: $52,500 36 PROCESS FOR A BALLOT MEASURE •Phase 2: Public Education, Ballot Measure Preparation (3 months) •Develop public-facing informational content •Educate and inform voters on city's funding needs •Finalize ballot measure features •Develop City Council resolution and ordinance •Estimated cost: $47,500 37 OPTIONS FOR CITY COUNCIL 1.Take no further action at this time. 2.Direct staff to engage consultant resources to complete the Phase 1 scope of work to evaluate the feasibility of passing a transit occupancy tax measure and return to the City Council for further direction. •This is a necessary step to place a transient occupancy tax on the ballot, but would not commit the City Council to do so. 3.Provide other direction as desired. 38 ITEM 7: POTENTIAL TOT INCREASE ITEM 7: POTENTIAL TOT INCREASE RECOMMENDED ACTION Receive a report requested by the City Council regarding the potential placement of a transient occupancy tax measure for the Nov. 5, 2024, general election ballot and provide feedback and direction on next steps if any. 39 Questions & Discussion 40 CARLSBAD HOTELS AND LODGING ESTABLISHMENTS Carlsbad is home to •42 Hotels and Loding Establishments in the City •417 Short Term Vacation Rentals 50