Title
AN ORDINANCE AMENDING CHAPTER 20 OF THE COMMERCE CITY REVISED MUNICIPAL CODE BY SUBSTITUTING A SALES AND USE TAX RATE OF 4.5% IN LIEU OF 3.5% ON ALL SALES AND USE TAX TRANSACTIONS TAXABLE UNDER THE COMMERCE CITY SALES AND USE TAX CODE AND REGULATIONS WITH THE PROCEEDS FROM SUCH SALES AND USE TAX INCREASE TO BE USED FOR RESTRICTED PURPOSES AS AUTHORIZED BY THE ELECTORS OF THE CITY OF COMMERCE CITY IN THE COMMERCE CITY ELECTION HELD ON NOVEMBER 5, 2013 AND PROVIDING FOR THE COLLECTION OF SAID TAX AND RELATED PROVISIONS
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Summary and Background Information:
• The Commerce City voters have approved increasing the Commerce City sales and use tax rate to 4.5% effective on January 1, 2014.
• The Commerce City Sales and Use Tax Code and Regulations must be amended to provide for the tax rate increase.
Staff Responsible (Department Head): Roger Tinklenberg
Staff Member Presenting: Roger Tinklenberg
Financial Impact:
An estimated $10 million in additional annual City revenue.
Funding Source:
Sales and use tax.
Suggested Motion:
I move to approve ordinance 1991