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Statham staff propose ordinance to tax in-city financial institutions; draft would set $1,000 minimum and allow up to 0.25% of gross receipts
Summary
Staff presented a draft ordinance enabling the city to impose an annual business tax on financial institutions operating in Statham, citing state statute '48 6 9'; the draft sets a $1,000 minimum and a ceiling of roughly a quarter of one percent of location revenue, with reporting and payment deadlines proposed.
A staff member (speaker 17) presented a draft ordinance to require financial institutions operating within the city to file gross-receipts reports and pay an annual business tax under a state statute cited in the packet as "48 6 9." The draft would set a minimum annual payment of $1,000 and allow a tax up to a quarter of 1% of revenue realized at the location, with the filing due by March 1 and payment by April 1 for the prior fiscal year if adopted.
Staff described that other nearby jurisdictions use similar ordinances and that the proposal is intended to capture a fair share of revenue generated at in-city bank branches. "Beginning on January 1, any and all financial institutions operating within the city of Statham would have to pay a tax on an annual basis of, at a minimum, $1,000, but up to 1 quarter of 1% of all revenue realized," the staff member said. Council asked clarifying questions about procedures, filing and audit; staff said the city would review reports, audit as necessary and assess payments annually.
No vote on adopting the ordinance is recorded in the transcript; staff encouraged the council to consider timing and review the draft language.
