The Redwood City Council will vote on a proposed business tax license modernization at its meeting Monday, retaining the current structure with adjustments to lessen the burden on small businesses.
The business license tax measure proposes a per employee rate between $10 and $250, with the highest fee on larger businesses. The tax will generate approximately $7.7 million, addressing significant budget deficits the city projects in coming years.
A former proposal considered a change to a gross receipts-based tax, but community feedback seemed to suggest this would be complex to calculate and would not allow for tax bill predictability. However, community surveys suggested support for city services.
“Although diverging from previous direction to consider a gross receipts model, the proposed modifications would increase payments by businesses with more employees and generate more revenue than the current BLT by substantially increasing the cap on maximum payments by a business,” according to a staff report.
At a previous City Council meeting, San Mateo County Chamber CEO Amy Buckmaster raised concerns over the shift in proposal.
“This rush to finish to beat the clock on placing a measure on the November 2024 ballot is leading to bad practices in developing public policy and engaging stakeholders,” Buckmaster said during public comment.
If approved, the measure will be placed on the November ballot for voter consideration.
The Redwood City Council meets 6 p.m. Monday, July 22, in the Council Chambers at City Hall, 1017 Middlefield Road. To see it virtually via Zoom, go to redwoodcity.zoom.us, Meeting ID: 994 8182 5639.
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