HomeMy WebLinkAboutCC AG PKT 2007-04-23 #G
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AGENDA REPORT
DATE:
April 23, 2006
TO:
Honorable Mayor and City Council
TIiRU:
Greg Beaubien, Interim City Manager
FROM:
Keith A. Evanoff, elMA, CRP, CRRA
Director of Administrative Services/Treasurer
SUBJECT:
Business License CPI Adjustment
SUMMARY OF REQUEST:
That Council implement the annual CPI increase to the business license tax for Fiscal Year 2007-
08.
BACKGROUND:
The Municipal Code identifies the amount of the business license tax based on the type of
business. There is a base tax that is used to determine the amount of business license tax
depending on the type of business. The current flat base tax is $194. The Code provides the
authorization to raise the base tax by the Consumer Price Index on an annual basis. The CPI
factor is calculated based on the Los Angeles-Riverside-Orange County Index for All Urban
Consumers on February for each comparative period.
FISCAL IMPACT:
The current flat base tax is $194. The increase in the Consumer Price Index is 3.5% resulting in
an adjusted rate of $201. The net increase in annual business tax revenues is approximately
$5,000 for fiscal year 2007/08.
RECOMMENDATION:
That Council implement the CPI increase to the business license tax for fiscal year 2007/08.
Kci1{;:E:.~
Director of Administrative Servicesrrreasurer
NOTED AND APPROVED:
,
Greg Beaul:)'
Interim City anager
Agenda Item~