{City of Coral Springs}
Businesses in Coral Springs would pay five percent more in taxes annually under a proposed tax hike being weighed by the city commission, records show.
Commissioners are scheduled to take up the proposed ordinance for the first time at their Wednesday meeting. If approved, the ordinance would have to be passed by commissioners a second time to become city law.
For most of the city’s 6,000-plus businesses, the ordinance would raise the standard business tax in the city by $8.04, from $160.80 to $168.84. Businesses paying that rate include offices, at-home businesses, entertainment, professional service providers, and contractors.
The city increased its business tax rate by five percent in 2002, 2004, 2013, 2015, 2017, 2019, 2021, and 2023, records show.
Under Florida law, local governments may increase their business tax rates by up to five percent every other year, according to the city. Every increase requires a majority plus one vote of the governing body – in this case, the city commission.
If the ordinance passes Wednesday, a second reading is scheduled for June 18.
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