How Business Taxes are Calculated
Business Tax and BIZ (Business Improvement Zones)
Tax Levy Rates
Business taxes are calculated by applying a tax levy rate against the "Annual Rental Value". If applicable a BIZ levy is also applied against the "Annual Rental Value".
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Your BIZ levy is calculated by applying your ARV multiplied by the BIZ levy rate.
Information on Business Improvement Zones (BIZ).
Small Business Tax Credit (SBTC)
City Council approved the extension of the Small Business Tax Credit (SBTC) program with the adoption of the 2024 Operating Budget.
Under the SBTC program, businesses with a business assessment (or Annual Rental Value) of $47,500 or less in 2024 will receive an offsetting credit equal to their full business taxes for 2024.
The Business Improvement Zone levies are not part of the SBTC program. If a business is located within a Business Improvement Zone the business will be responsible for paying these levies.
Table of Rates
Found on the Statistics webpage.