$90 million. That’s how much in taxes MuniServices, one of the nation’s leading providers of tax audit and revenue recovery services for local municipalities, anticipates it will audit for the City of Santa Monica.
In a five-year contract, MuniServices will review and analyze revenue collected from the City’s Business License Tax, Parking Facilities Tax, and Transient Occupancy Tax. Unpaid taxes discovered by MuniServices will be collected and returned to the City.
“This is significant revenue owed to the City. It’s needed funding that goes towards public safety services and infrastructure projects that make Santa Monica a great place to live and visit” said Fran Mancia, Vice President of Government Affairs for MuniServices.
MuniServices has conducted Business License and Parking Facilities Tax audits for the City of Santa Monica since 2013 and helped recover an additional $1 million in tax revenue. The new contract continues these services and will add Transient Occupancy Tax audits.
“We’ve been able to provide solid results for the City, and strive to be a valuable resource to them,” said Julia Erdkamp, MuniServices’ Client Services Manager. “We appreciate their continued confidence in us and our partnership.”
Through routine audits like these, cities and counties throughout California often discover hundreds of thousands in taxes that have been underpaid.
In FY 2015/2016, the City of Santa Monica collected:
- $30.8 million from 23,000 licensed businesses,
- $11 million from 200 private and public parking facilities, and
- $51 million from 44 hotels and 120 home-sharing businesses.
With more than 900 cities, counties, and special districts as clients, MuniServices is the nation’s leading provider of proprietary revenue recovery, audit and administration services encompassing all general sources of municipal tax revenue. To learn more about MuniServices and its revenue recovery services, visit www.muniservices.com.