Title
A Resolution of the City Commission of Coral Gables, Florida, amending Ordinance 2015-17, as amended, increasing Local Business Tax rates by 5% covering fiscal years 2019-2020 and 2020-2021, as provided for under Chapter 205.0535 of the Florida Statutes; providing severability clause, and an effective date.
Body
On June 16, 2015, the City Commission adopted Ordinance 2015-17 that restated and amended city-wide fees, licenses, permits, services and penalties. Since that time, the City has made periodic updates, which are reflected in this updated Fee Schedule.
In 1995, the state legislature authorized municipalities to increase Local Business Tax (LBT) rates by a maximum of 5% once every two (2) years as provided for under Chapter 205.0535 of the Florida Statutes. The last adjustment to this tax was in 2017. The attached resolution increases most classifications by 5% effective October 1, 2019 (pages 53-81 of Exhibit I). The adoption of this fee adjustment would allow reasonable time for computer systems update, staff notification and businesses to make payment before the expiration date of September 30, 2019. The amended local business tax rates will adjust annual revenue by approximately $160,000.