Ordinance No. 19355 - Laserfiche WebLink

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~bb~ Public relations consultants. ~cc} Real estate loan brokers. add} Tax consultants. (eel Religious practitioners. ~ff~ Industrial financing. ~~~ Except as provided in subsections ~3~ and ~4} of this section and except for professionals, far those exempt under state law from municipal taxation, and for an owner or occupant of property exempt from taxation under section 3.755 of this code, each person who engages in a business in the Downtown Development District during part ar all of a quarter of a year shall pay to the city for that quarter a tax of $2.50 per $1,000 of the gross re- tail sales and receipts from the business during that quarter. A minimum tax of $10.00 shall be charged each quarter of a year far each business. ~3} Each person engaged in banking or a savings and loan associ- atian business in the Downtown Develailment District during part or all of a quarter of a year, shall pay to the city for that quarter a tax of $2.50 per $1,OOD of one and three-quarters percent x.0175} of the total demand deposits, and of $2.50 per $1,000 of five-tenths of one percent x.005} of the total time deposits. Total time and demand deposits of banks shall be .the total daily average deposits during that quarter as reported on the Federal Reserve Call; and total time deposits of savings and loan associ- ations shall be the total daily average of all savings deposits during that quarter. I~henever savings and loan associations receive demand-type deposits, the tax rate an those deposits shall be $2.50 per $1,040 of one and three-quarters percent x.0175} of the daily average of those deposits during that quarter. ~4~ Each person engaged in a consumer finance business in the Downtown Development District during part or all of a quarter of a year shall pay to the city for that quarter a tax of $2.50 per $1,400 of five percent x.05} of the total principal balance of direct loans outstanding at the end of that quarter, excluding finance charges. . ~5} Businesses 1 ocated within the Downtown Development District which are Hat expressly exempt from the tax imposed in this section but which do not clearly fal l within the description of the businesses i n thi s section shall be categorized by the city manager and granted an exemption ar taxed at a fair and equitable rate based on gross receipts of all or part of the business taking into account the policies of the city regarding the development of the downtown area, the cost of the special public services provided the Downtown Development District, the impact upon net profit the gross receipts taxes levied by this section has on the existing tax paying businesses and the ease with which the tax may be collected. ~6} Any person aggrieved by being erroneously classified in his ar her opinion for purposes of the tax imposed by this section may request the city manager to review the classification. l~ithin 15 days after receiv- ing the request, the city manager or the manager's designee, after affording the person an opportunity to be heard with reference to his or her grievance, shall determine how the person shall be classified for purposes of the tax. Such determination shall be final. ~7} The tax imposed by this section is due and ayable b the P Y last day of the month immediately following the quarter to which the tax applies, and becomes delinquent if not paid on the last day of the of month in which it becomes due. The date of the payment shall be the date of its personal delivery to the finance officer or his ar her designee, ar its postmark date, whichever is the earlier. The quarters to which the tax Ordinance - 3