{City of Coral Springs}
Coral Springs commissioners on Wednesday rejected a proposed tax hike that would have increased business taxes in the city by five percent.
The decision means the city’s business tax rate will remain unchanged for now.
City staffers had studied the issue and recommended that commissioners raise the standard tax for most businesses in the city by $8.04, from $160.80 to $168.84.
The city may lose $200,000 a year as a result of Wednesday’s decision, officials said.
“To me, it’s the optics – it’s the perception,” Coral Springs Commissioner Shawn Cerra said ahead of the “no” vote. “Financially, I think we’re in one of the best positions we’ve been in in years.”
Cerra also cited issues businesses are facing in the current economy, including staffing challenges and tariffs.
“Because of the uncertain times we’re in with businesses, we want to show our full support,” Cerra said.
Under Florida law, local governments may increase their business tax rates by up to five percent every other year, according to the city.
The city last increased its business tax rate in 2023.
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