Minutes 08/22/1989 - Laserfiche WebLink

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118 TUESDAY, AUGUST 22, 1989 authority, as requested by Councilman Cole, under which or by which City Council has the responsibility for establishing and/or amending local taxi-cab rates. Mr~ J. Ronnie Minter, Commissioner of the Revenue, in writing and in person recommended that Council amend Article III of the City's Business-Professional- Occupation License Tax Ordinance (as proposed by Ordinance No. 89-9) and amend Chapter 21 of the City Code (as proposed by Ordinance No. 89-10) to effect the following, as permitted under State statutes as they relate to short'term rental businesses: A. To provide for the classifying of daily rental property as merchants capital, thereby exempting it from local personal property taxation; B. To provide for the classifying of short-term businesses, for purposes of local license taxation, as retail sales businesses, which would be subject to a maximum rate of 20¢ per $100.00 of gross receipts, instead of heretofore business services subject to a license tax rate of 36¢ per $100.00 of gross receipts; and C. To provide for the levying by the City of a tax of up to one percent (1%) on gross rental receipts. Council unanimously accepted the two proposed ordinances for introduction and placed them on first reading for further consideration at its forthcoming September 12th regular meeting, with the understanding and/or condition that proposed Ordinance No. 89-10 (Section 21162) shall have deleted therefrom the reference to the one percent (1%) tax on gross receipts. Council concurred with Councilman Cole in his request that the Commissioner of the Revenue provide Council with estimates of revenue currently being received by the City from short-term rental businesses and the revenue the City might receive from this source under the proposed ordinance(s). Council also concurred with Councilman Groden's suggestion that a display-type notice be published in the