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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, TEMPORARILY SUSPENDING PENALTIES FOR LATE PAYMENT OF BUSINESS TAX RECEIPTS FOR ALL EXISTING AND NEW BUSINESSES THROUGH SEPTEMBER 30, 2020; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $26,000)
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(Staff Contact: Daniel Keester-O’Mills/David Recor)
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Summary Explanation/Background:
The City is proposing to give the businesses relief from penalty fees for outstanding business tax receipts. The temporary relief from the penalty fees are intended to help ease the cost of choosing to do business in Pompano Beach in light of the coronavirus. There are approximately 500 businesses that have yet to renew their Business Tax Receipt (BTR), which at this point in the year would require a 45% penalty fee to be added on top of the annual tax. If the Resolution is approved, for the duration of this fiscal year BTR staff would not impose the penalty fees on new or existing businesses operating in Pompano Beach.
Origin of request for this action: Development Services Staff
Fiscal impact and source of funding: Loss of $26,000 in penalty fees collected
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