HomeMy WebLinkAbout06-256
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
BILL #
$c/~- :zS-~
DATE SUBMITTED: 11-03-06
-
.......... o~;i';~":'~~: ~18~.-t;;................ 8......".........8.... II 8.................. I
SUBJECT: Amend Chapter 3.48 of the Committee Meeting Date: 11-02-06
BMC related to B&O tax exemptions and tax COUNCIL MEETING Date: 11-15-06
credits and Chapter 3.50 related to reducing Department: Financial Services
the utility tax rate for solid waste Presenter: . Laura Lyon
Phone: 473-5722
SUMMARY: It is the intent of the City to encourage growth and attract new business and it is
believed that providing a greater exemption of revenues from the City's business and occupation tax
will serve to encourage expansion of existing business and attract new businesses to the City in
combination with establishing a tax credit for the creation of new family wage jobs in the City of
Bremerton. Also, in order to encourage and accommodate the successful completion of City
annexation _efforts a three year exemption from local business and occupation taxes for businesses
located in an area that has become part ofthe City by annexation is proposed. Finally, a reduction in
the utility tax rate for persons engaging in the business of providing solid waste collection service is
proposed from the current rate of 10% to 9.5%.
ATTACHMENTS: Ordinance NO. fq8 ~
FISCAL IMPACTS (Include Budgeted Amount): The proposed 2007 budget anticipates B&O tax
and solid waste utility tax revenues as modified by this action.
APPROVALS:
DEP ARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
FISCAL/BUDGET:
OPERATIONS:
. COUNCILPRESIDENT: C:::;:;4~'/:;;~~4
RECOMMENDED MOTION:
I CONSENT AGENDA 0 I
Move to approve Ordinance No. 41 ~ g amending Chapter 3.48 ofthe Bremerton Municipal Code
relating to Business and Occupation" tax in order to increase the exemption of revenue subject to
taxation, provide a three (3) year exemption from taxes for businesses located in an area annexed by
the City, and provide atax credit related to qualified jobs creation within Bremerton and amending
Chapter 3.50 of the BMC to reduce the utility tax rate for solid waste.
COUNCIL ACTION: ~ove
o Deny
o Table
o Continue 0 No Action