Tonight’s discussion is to receive Town Council direction regarding 2023 business license tax rates (tax rates are aligned with the calendar year). Any 2023 rate changes must be adopted by December 31, 2022, prior to the renewal process in January.
In order to change business license tax rates for 2023, a public hearing is required and must be advertised at least 7 days in advance of the public hearing. The timing to adopt any changes is very limited and shown below under Critical Timeline.
CRITICAL TIMELINE:
September 27, 2022 - Town Council direction regarding potential tax rate changes and recommend rate maximums by business category for public hearing notice (use the BPOL Locality Rate Comparison & Rate History reports for guidance).
October 7th/14th, 2022 – Public Hearing Ad run in newspaper
October 25th, 2022 – Public Hearing on 2023 rates & Council discussion
Meeting options to vote on changes to 2023 business license rates:
October 25th -if rules set aside for vote on same day as public hearing
November 15th, 2022
December 13th, 2022