News Politics

5 Percent Business Tax Increase Close to Approval by Coral Springs Commission

by Bryan Boggiano June 5, 2021

by Bryan Boggiano June 5, 2021 241 views

tax increase

By: Bryan Boggiano

All businesses in Coral Springs could be due for a tax increase if the city commission approves.

The commission voted Wednesday to advance the business tax increase to their June 16 meeting. According to a city-released memo, this would mean an increase from $145.85 to $153.14 per year for most businesses.

This includes companies in business and personal services, fitness and entertainment, contractors, education, healthcare, rental services, financial services, hair salons and barbers, and repair shops.

For restaurants with a capacity of 75 or fewer people, the business tax will increase from $218.78 to $229.71, while those with more than 75 people will increase from $549.86 to $577.35.

Manufacturing plants with 50 or fewer people will see an increase from $218.78 to $229.72, while the rate for plants with more than 50 people will go from $590.38 to $619.90.

Retailers could see tax increases from as little as $10.23 to as much as $55.27.

There are 6,450 business tax licenses in the city, mostly home-based, general, professionals, housing, and merchants.

Cities can increase business taxes by up to 5 percent every other year. Coral Springs increased rates in 2002, 2004, 2013, 2015, 2017, and 2019.

The new tax rate would take effect on October 1.

Commissioners originally expressed mixed opinions on the tax increase and were hesitant to discuss the initiative. Commissioner Metayer ultimately motioned to discuss, which Commissioner Cerra seconded.

“We all have endured very difficult times in the last 15 months, but we have a responsibility to move this city forward,” Cerra said.

Joy Carter said that with the economy just starting to improve after COVID, it puts the commission in a tough place. Mayor Scott Brook said that he would need to talk to more business leaders to support, saying his vote leaned toward no.

Vice Mayor Simmons said that the tax increases would help the city achieve its mission of being a premier place to work, live, and raise a family in the long run.

Brook changed his mind, citing that taxes are used to fund essential city services. Brook, who also runs a law practice in the city, said that his taxes would go up by only about $8, and since the tax hike is small across the board, he would vote in favor.

All four commissioners followed, and the business tax increase is slated to be discussed again at the commission’s June 16 meeting.

Send Your News to Coral Springs #1 Award-Winning News Site Here.

Author Profile

Bryan Boggiano

Bryan has a degree in journalism from the University of Florida and earned his masters in geosciences from Florida International University, where he focused in atmospheric sciences. His interests include weather, entertainment, and municipal government.