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HomeMy WebLinkAboutCommittee of the Whole Packet for 11/06/2017 AGENDA Committee of the Whole Meeting 5:00 PM - Monday, November 6, 2017 7th Floor, Council Chambers, 7th Floor, City Hall – 1055 S. Grady Way 1. MID-BIENNIAL BUDGET DELIBERATIONS a) AB - 1991 Administrative Services Department recommends setting a public hearing on October 23, 2017 to consider the proposed 2018 Property Tax Levy (revenue sources), the proposed 2017/2018 Mid-Biennium Budget Adjustment, and proposed fee schedule adjustments; and proposed adoption of related legislation. b) Presentation 2. HEAD TAX - B&O TAX DISCUSSION a) Presentation AB - 1991 City Council Regular Meeting - 25 Sep 2017 SUBJECT/TITLE: 2017/2018 Mid-Biennium Budget Amendment RECOMMENDED ACTION: Refer to Committee of the Whole DEPARTMENT: Administrative Services Department STAFF CONTACT: Jamie Thomas, Fiscal Services Director EXT.: 6929 FISCAL IMPACT SUMMARY: SUMMARY OF ACTION: In compliance with RCW 35A.34, this agenda bill sets the following dates and times for all ordinances/resolutions related to the proposed 2017/2018 mid -biennium adjustment: 1. Submission of the proposed budget to the City Clerk and presented to the City Council at the October 9, 2017 Committee of the Whole. 2. Establish a public hearing for October 23, 2017, which includes a discussion of revenue sources and the proposed mid-biennium budget adjustment. The following ordinances/resolutions will be presented as part of the public hearing process: a. 2018 Property Tax Levy (revenue sources) b. Proposed Mid-Biennium Budget Adjustment c. Proposed Fee Schedule Adjustments EXHIBITS: A. Mid-Biennium Budget Amendment Calendar STAFF RECOMMENDATION: Set a public hearing date of October 23, 2017 to consider the proposed 2018 Property Tax Levy (revenue sources), the proposed 2017/2018 Mid-Biennium Budget Adjustment, and proposed fee schedule adjustments; and a proposed adoption of all related ordinances/resolutions by November 13, 2017. AGENDA ITEM #1. a) CITY OF RENTON PRELIMINARY 2017-2018 MID-BIENNIUM BUDGET AMENDMENT CALENDAR Unless otherwise specified, all meetings will be held at City Hall, 1055 S. Grady Way, Renton, Washington 98057. October 9, 2017 – Committee of the Whole – 6:00 p.m. Council budget workshop: Proposed Mid-Biennium Adjustments (ordinance) Proposed Property Tax Levy (ordinance) Proposed Fee Schedule Adjustments (resolution) October 23, 2017 – Regular Council Meeting – 7:00 p.m. Public hearing as required by RCW 35A.34: Proposed 2018 Property Tax Levy (revenue sources) Proposed Mid-Biennium Budget Adjustment Proposed Fee Schedule Adjustments November 6, 2017 – Committee of the Whole (if needed) – 6:00 p.m. Council budget workshop: Follow up to Council questions Deliberation Finalize Committee Report November 6, 2017 – Regular Council Meeting – 7:00 p.m. Adopt Committee Report 1st reading of 2017/2018 Mid-Biennium Budget Amendment ordinance 1st reading of the 2018 Property Tax Levy ordinances November 13, 2017 – Regular Council Meeting – 7:00 p.m. 2nd reading and adoption of all ordinances Adoption of the Fee Schedule Resolution AGENDA ITEM #1. a) MI D - B I E N N I A L B U D G E T AD J U S T M E N T O V E R V I E W NO V E M B E R 6 , 2 0 1 7 AGENDA ITEM #1. b) MI D - B I E N N I U M R E V I E W P R O C E S S 2 Oc t o b e r  9  (C o m m i t t e e  of  th e  Wh o l e ) R e v e n u e  Up d a t e  an d  Pr o p o s e d  20 1 7 ‐18  Adjustment Oc t o b e r  23  (R e g u l a r  Co u n c i l  Me e t i n g ) P u b l i c  He a r i n g :    20 1 8 R e v e n u e  an d P r o p e r t y  Ta x  Levy  Mi d ‐bi e n n i u m  Bu d g e t  Ad j u s t m e n t s No v e m b e r  6  (C o m m i t t e e  of  th e  Wh o l e ) C o u n c i l  De l i b e r a t i o n Fi n a l i z e  Co m m i t t e e  Re p o r t No v e m b e r  6    (R e g u l a r  Co u n c i l  Me e t i n g ) C o m m i t t e e  Re p o r t  Ad o p t i o n Or d i n a n c e s  ‐ Fi r s t  Re a d i n g • Pr o p e r t y T a x • Bu d g e t  Am e n d m e n t   No v e m b e r  13    (R e g u l a r  Co u n c i l  Me e t i n g ) O r d i n a n c e s / R e s o l u t i o n ‐ Fi n a l  Re a d i n g / A d o p t i o n AGENDA ITEM #1. b) FO L L O W U P I T E M S  Pr o v i d e  ba c k u p  do c u m e n t a t i o n  fo r  ne w  FT E ’ s  an d  pe r s o n n e l   ch a n g e s  be i n g  re q u e s t e d  in  th e  mi d ‐bi  bu d g e t .  Pr e p a r e  fu n d  ba l a n c e  pr o j e c t i o n s  fo r  po l i c e  de p a r t m e n t  ta k e ‐ ho m e  ve h i c l e s .  Th r e e  co m m i t t e e  re p o r t s  an d  su p p o r t i n g  le g i s l a t i o n  pa c k a g e s   ha v e  be e n  pr e p a r e d :  Op t i o n  A:  Al l  pr e v i o u s l y  re c o m m e n d e d  pr o p o s a l s ,  le s s  PD  ta k e ‐home   ve h i c l e s  Op t i o n  B:  Al l  pr e v i o u s l y  re c o m m e n d e d  pr o p o s a l s ,  pl u s  PD  ta k e ‐home   ve h i c l e s  pu r c h a s e d  ov e r  2  ye a r s  Op t i o n  C:  Al l  pr e v i o u s l y  re c o m m e n d e d  pr o p o s a l s ,  pl u s  PD  ta k e ‐home   ve h i c l e s  pu r c h a s e d  ov e r  3  ye a r s   3AGENDA ITEM #1. b) GE N E R A L F U N D B A L A N C E I M P A C T 4 20 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 Op t i o n  A  ‐   No  PD  Ve h i c l e s P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d Be g i n n i n g  Fu n d  Ba l a n c e 26 . 6 $                   20 . 0 $                   23 . 1 $                   21 . 8 $                   17 . 5 $                   10.7 $           To t a l  S o u r c e s 1 0 3 . 8 $               10 0 . 2 $               98 . 6 $                   10 0 . 1 $               10 0 . 8 $               102.7 $         To t a l  Us e s ( 1 1 0 . 4 )                  ( 9 7 . 1 )                      ( 1 0 0 . 0 )                  ( 1 0 4 . 4 )                  ( 1 0 7 . 7 )                  (108.4)                  En d i n g  Fu n d  Ba l a n c e 2 0 . 0 $                   23 . 1 $                   21 . 8 $                   17 . 5 $                   10 . 7 $                   5.0 $              20 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 Op t i o n  B  ‐   2  YR  Im p l e m e n t . P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d Be g i n n i n g  Fu n d  Ba l a n c e 26 . 6 $                   20 . 0 $                   22 . 5 $                   18 . 9 $                   13 . 9 $                   6.3 $              To t a l  S o u r c e s 1 0 3 . 8 $               10 0 . 2 $               98 . 6 $                   10 0 . 1 $               10 0 . 8 $               102.7 $         To t a l  Us e s ( 1 1 0 . 4 )                  ( 9 7 . 1 )                      ( 1 0 0 . 0 )                  ( 1 0 4 . 4 )                  ( 1 0 7 . 7 )                  (108.4)                  Ne w  C o s t s ( 2 . 1 )                          (2 . 5 )                          (0 . 8 )                          (0 . 8 )                          (0.8)                          1x  Re s o u r c e s 1 . 5                            0. 2                            ‐                            ‐                            ‐                            En d i n g  Fu n d  Ba l a n c e 2 0 . 0 $                   22 . 5 $                   18 . 9 $                   13 . 9 $                   6. 3 $                         (0.2)$            20 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 Op t i o n  C  ‐   3  YR  Im p l e m e n t . P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d P r o j e c t e d Be g i n n i n g  Fu n d  Ba l a n c e 26 . 6 $                   20 . 0 $                   23 . 0 $                   20 . 8 $                   15 . 0 $                   7.4 $              To t a l  S o u r c e s 1 0 3 . 8 $               10 0 . 2 $               98 . 6 $                   10 0 . 1 $               10 0 . 8 $               102.7 $         To t a l  Us e s ( 1 1 0 . 4 )                  ( 9 7 . 1 )                      ( 1 0 0 . 0 )                  ( 1 0 4 . 4 )                  ( 1 0 7 . 7 )                  (108.4)                  Ne w  C o s t s ( 1 . 2 )                          (1 . 4 )                          (1 . 7 )                          (0 . 8 )                          (0.8)                          1x  Re s o u r c e s 1 . 1                            0. 5                            0. 2                            ‐                            ‐                            En d i n g  Fu n d  Ba l a n c e 2 0 . 0 $                   23 . 0 $                   20 . 8 $                   15 . 0 $                   7. 4 $                         0.9 $             AGENDA ITEM #1. b) MI D - B I E N N I U M R E V I E W N E X T S T E P S 5 Oc t o b e r  9  (C o m m i t t e e  of  th e  Wh o l e ) R e v e n u e  Up d a t e  an d  Pr o p o s e d  20 1 7 ‐18  Adjustment Oc t o b e r  23  (R e g u l a r  Co u n c i l  Me e t i n g ) P u b l i c  He a r i n g :    20 1 8 R e v e n u e  an d P r o p e r t y  Ta x  Levy  Mi d ‐bi e n n i u m  Bu d g e t  Ad j u s t m e n t s No v e m b e r  6  (C o m m i t t e e  of  th e  Wh o l e ) C o u n c i l  De l i b e r a t i o n Fi n a l i z e  Co m m i t t e e  Re p o r t No v e m b e r  6    (R e g u l a r  Co u n c i l  Me e t i n g ) C o m m i t t e e  Re p o r t  Ad o p t i o n Or d i n a n c e s  ‐ Fi r s t  Re a d i n g • Pr o p e r t y T a x • Bu d g e t  Am e n d m e n t No v e m b e r  13    (R e g u l a r  Co u n c i l  Me e t i n g ) O r d i n a n c e s / R e s o l u t i o n ‐ Fi n a l  Re a d i n g / A d o p t i o n AGENDA ITEM #1. b) PE R E M P L O Y E E F E E AN D B & O T A X CH A N G E S No v e m b e r 6 , 2 0 1 7 1AGENDA ITEM #2. a) Cu r r e n t t a x s t r u c t u r e ■ Cu r r e n t l y t h e C i t y h a s s e t u p a m u l t i l e v el b u s i n e s s l i c e n s e a n d B & O t a x s t r u c t u r e – Li c e n s e F e e – Pe r E m p l o y e e L i c e n s e F e e – B& O T a x ■ Pe r e m p l o y e e l i c e n s e f e e i s d u e f o r a l l b u s i n e s s e s n o t s u b j e c t t o B & O T a x – Cu r r e n t B & O t a x t h r e s h o l d : $ 1 . 5 M i l l i o n ■ Th e b r e a k d o w n b e l o w i l l u s t r a t e s t h e n u m b er o f b u s i n e s s e s c u r r e n t l y i n e a c h ca t e g o r y : 2 Ty p e Co u n t B& O T a x p a y e r 4 5 0 He a d T a x 1 8 5 0 Li c e n s e O n l y 3 7 0 0 AGENDA ITEM #2. a) Re a s o n s f o r C h a n g e s ■ HB 2 0 0 5 – Re q u i r e m e n t t o j o i n a S t a t e s p o n s o r e d o n l i n e b u s i n e s s l i c e n s e p o r t a l – Fi l e L o c a l i s t h e p r e f e r r e d s y s t e m d u e t o t a x i n t e g r a t i o n a n d c u s t o m e r s e r v i c e – Cu r r e n t c o d e w i t h p e r e m p l o y e e f e e i s n o t c o m p a t i b l e w i t h l i c e n s e a n d t a x p o r t a l ■ Sa v e m o n e y b y r e d u c i n g / m i n i m i z i n g c u s t o m i z a t i o n c o s t s ■ Si m p l i f i c a t i o n o f t a x s t r u c t u r e a n d c o n s i s t e n c y w i t h o t h e r c i t i e s – Cu r r e n t l y a l r e a d y t r a c k i n g r e v e n u e n u m b e r s f o r t h e S t a t e o f W a s h i n g t o n B & O t a x – Re d u c e c o n f u s i o n b e t w e e n w h e n B & O t a x i s d u e a n d w h e n p e r e m p l o y e e f e e i s du e – El i m i n a t i o n o f t a x p a y m e n t s r e d u c i n g c o s t s f o r s m a l l e r b u s i n e s s e s ■ Ou r r e c o m m e n d a t i o n t o m e e t a l l o f t h e a b o v e i s t o e l i m i n a t e t h e p e r e m p l o y e e f e e . 3AGENDA ITEM #2. a) Re v e n u e I m p a c t w i t h E l i m i n a t i o n o f t h e Pe r E m p l o y e e F e e ■ Pe r e m p l o y e e l i c e n s e f e e – $5 0 0 k i n r e v e n u e o v e r t h e l a s t 1 2 m o n t h s – Le s s t h a n 1 0 % o f t o t a l b u s i n e s s t a x r e v e n u e s ■ Pr i n c i p a l s G u i d i n g A n a l y s i s – Ov e r a l l c h a n g e s h o u l d b e r e v e n u e n e u t r a l – Mi n i m i z e i m p a c t t o s m a l l b u s i n e s s e s ■ We a n a l y z e d m u l t i p l e s c e n a r i o s t o r e c o u p a ll o r p a r t o f t h e r e v e n u e l o s t w h i c h w i l l b e de t a i l e d o n t h e f o l l o w i n g s l i d e s : – B& O T a x t h r e s h o l d r e d u c t i o n – B& O T a x c a p i n c r e a s e – Co m b i n a t i o n 4AGENDA ITEM #2. a) B& O T a x T h r e s h o l d s ( S i m i l a r W A C i t i e s ) Ci t y Th r e s h o l d Qu a r t e r l y A n n u a l H i g h e s t R a t e Be l l e v u e $ 1 6 0 , 0 0 0 0 . 1 4 9 6 % Be l l i n g h a m $ 5 , 0 0 0 $ 2 0 , 0 0 0 0 . 4 4 % Br e m e r t o n $ 1 6 0 , 0 0 0 0 . 2 % Bu r i e n $ 2 0 0 , 0 0 0 0 . 1 % De s M o i n e s $ 5 0 , 0 0 0 0 . 2 % Ev e r e t t $ 5 , 0 0 0 $ 2 0 , 0 0 0 0 . 1 % Is s a q u a h $ 2 5 , 0 0 0 $ 1 0 0 , 0 0 0 0 . 1 5 % La k e F o r e s t P a r k $ 5 , 0 0 0 0. 2 % Ke n t $ 6 2 , 5 0 0 $ 2 5 0 , 0 0 0 0 . 1 5 2 % Me r c e r I s l a n d $ 1 5 0 , 0 0 0 0 . 1 % Ol y m p i a $ 5 , 0 0 0 $ 2 0 , 0 0 0 0 . 2 % Re n t o n $ 1 , 5 0 0 , 0 0 0 0 . 0 8 5 % Se a t t l e $ 1 0 0 , 0 0 0 0 . 4 2 3 % Ta c o m a $ 2 5 0 , 0 0 0 0 . 4 % 5AGENDA ITEM #2. a) Sc e n a r i o 1 B & O T a x T h r e s h o l d Re d u c t i o n ■ Cu r r e n t l y R e n t o n h a s t h e h i g h e s t B & O t a x t h r e s h o l d b y a s u b s t a n t i a l m a r g i n a s s e e n in t h e p r i o r s l i d e a t $ 1 . 5 m i l l i o n . B e l o w a r e s o m e p o t e n t i a l t h r e s h o l d l e v e l s a n d t h e im p a c t e a c h c h a n g e w o u l d h a v e : ■ Re d u c i n g t h e t h r e s h o l d , e v e n t o $ 5 0 0 k , w o u l d s t i l l k e e p o u r t h r e s h o l d w e l l a b o v e a l l ot h e r l a r g e a n d m e d i u m s i z e W a s h i n g t o n C i t i e s $1 , 0 0 0 , 0 0 0 T h r e s h o l d A d d i t i o n a l T a x E s t i m a t e A d d i t i o n a l B & O T a x p a y e r s R e d u c t i o n i n T a x P a i d $1 8 5 , 0 0 0 18 5 1 6 6 5 $5 0 0 , 0 0 0 T h r e s h o l d A d d i t i o n a l T a x E s t i m a t e A d d i t i o n a l B & O T a x p a y e r s R e d u c t i o n i n T a x P a i d $4 1 0 , 0 0 0 58 3 1 2 6 7 $7 5 0 , 0 0 0 T h r e s h o l d A d d i t i o n a l T a x E s t i m a t e A d d i t i o n a l B & O T a x p a y e r s R e d u c t i o n i n T a x P a i d $2 9 0 , 0 0 0 33 2 1 5 1 8 6AGENDA ITEM #2. a) Sc e n a r i o 2 & 3 B & O T a x C a p I n c r e a s e or C o m b i n a t i o n ■ Th e C i t y ’ s m a x i m u m t a x p a i d b y a n y o n e bu s i n e s s i n a c a l e n d a r y e a r i s $ 4 , 2 5 0 , 0 0 0 wh i c h i s a d j u s t e d a n n u a l l y b y t h e C P I - W – 20 1 6 C a p $ 4 , 2 5 0 , 0 0 0 . 0 0 – 20 1 7 C a p $ 4 , 3 3 5 , 7 0 9 . 7 5 – 20 1 8 C a p $ 4 , 4 2 2 , 4 2 3 . 9 5 ( P r o j e c t e d ) – Op t i o n t o c o n s i d e r w o u l d b e r a i s i n g t h i s c a p b e y o n d t h e C P I a d j u s t m e n t t o pa r t i a l l y r e c o u p r e v e n u e l o s t f r o m e l i m i n a t i o n o f p e r e m p l o y e e l i c e n s e f e e . ■ Th e t h i r d o p t i o n t o c o n s i d e r c o u l d b e t o lo w e r t h e B & O T a x t h r e s h o l d a g i v e n a m o u n t an d a l s o i n c r e a s e t h e B & O T a x c a p t o r e c o u p t h e p e r e m p l o y e e r e v e n u e s . 7AGENDA ITEM #2. a) Re c o m m e n d a t i o n ■ Af t e r a n a l y z i n g m u l t i p l e s c e n a r i o s a n d r e v i e w i n g t h e i m p a c t o n r e v e n u e s a n d t h e bu s i n e s s c o m m u n i t y , s t a f f r e c o m m e n d : – El i m i n a t e p e r e m p l o y e e f e e – Re d u c e B & O t a x t h r e s h o l d t o $ 5 0 0 k – Do n o t a d j u s t c a p b e y o n d C P I – Do n o t a d j u s t t a x r a t e s ■ Th i s w i l l c r e a t e a r e v e n u e n e u t r a l s c e n a r i o a n d s t i l l p r o t e c t s m a l l b u s i n e s s e s b y el i m i n a t i n g t a x p a y m e n t s c r e a t i n g a t a x s a v i n g s f o r o v e r 1 2 0 0 s m a l l b u s i n e s s e s (w h o w i l l m o v e t o l i c e n s e p a y m e n t o n l y ) . ■ No I m p a c t f o r b u s i n e s s e s a l r e a d y s u b j e c t t o B & O T a x . 8AGENDA ITEM #2. a) Re c o m m e n d a t i o n I m p a c t Cu r r e n t B r e a k d o w n o f Bu s i n e s s T y p e Im p a c t o f P r o p o s e d Br e a k d o w n o f B u s i n e s s Type Ty p e Co u n t Count B& O T a x p a y e r 45 0 1033 He a d T a x 18 5 0 0 Li c e n s e O n l y 37 0 0 4967 9AGENDA ITEM #2. a) Re c o m m e n d a t i o n I m p a c t ( C o n t . ) Br e a k d o w n o f A d d i t i o n a l B & O T a x p a y e r s i m p a c t A v e r a g e In c r e a s e i n T a x 5 4 1 $ 5 7 0 De c r e a s e i n T a x 4 2 $ ( 5 1 5 ) To t a l 5 8 3 In c r e a s e I n T a x D e c r e a s e i n T a x T o t a l In s i d e C i t y B u s i n e s s e s 4 2 2 4 0 4 6 2 Ou t s i d e C i t y B u s i n e s s e s 1 1 9 2 1 2 1 54 1 4 2 5 8 3 10AGENDA ITEM #2. a) Re c o m m e n d a t i o n I m p a c t ( C o n t . ) 11 Mo s t I m p a c t e d I n d u s t r i e s C o u n t Av e r a g e  $ Increase 62 D e n t i s t s , C h i r o p r a c t o r s , o t h e r He a l t h S e r v i c e s 9 8 $500 72 A c c o m m o d a t i o n a n d F o o d Se r v i c e s ( i . e . R e s t a u r a n t c h a i n s , f a s t fo o d , b a r s a n d o t h e r r e s t a u r a n t s ) 7 4 $350 23 C o n s t r u c t i o n 6 7 $600 44 R e t a i l T r a d e 5 6 $600 54 P r o f e s s i o n a l , S c i e n t i f i c a n d Te c h n i c a l S e r v i c e s 4 1 $600AGENDA ITEM #2. a) Ex a m p l e s o f I m p a c t ■ De n t i s t , C h i r o p r a c t o r o r o t h e r P r o f e s s i o n a l S e r v i c e p r o v i d e r l o c a t e d i n s i d e t h e C i t y – 5 e m p l o y e e s i n R e n t o n – $8 0 0 , 0 0 0 o f r e v e n u e i n R e n t o n 12 Am o u n t D u e u n d e r p e r em p l o y e e l i c e n s e f e e s Ta x D u e u n d e r B & O I n c r e a s e I n T a x D u e $3 3 7 . 9 2 $ 6 8 0 . 0 0 $ 3 4 2 . 0 8 AGENDA ITEM #2. a) Ex a m p l e s o f I m p a c t ( C o n t . ) ■ Re s t a u r a n t o r R e t a i l e s t a b l i s h m e n t l o c a t e d i n s i d e t h e C i t y o f R e n t o n – 5 e m p l o y e e s i n R e n t o n – $8 0 0 , 0 0 0 o f r e v e n u e i n R e n t o n 13 Am o u n t D u e u n d e r p e r em p l o y e e l i c e n s e f e e s Ta x D u e u n d e r B & O I n c r e a s e I n T a x D u e $3 3 7 . 9 2 $ 4 0 0 . 0 0 $ 6 2 . 0 8 AGENDA ITEM #2. a) Ex a m p l e s o f I m p a c t ( C o n t . ) ■ Re s t a u r a n t o r R e t a i l e s t a b l i s h m e n t l o c a t e d i n s i d e t h e C i t y o f R e n t o n – 13 e m p l o y e e s i n R e n t o n – $1 , 0 0 0 , 0 0 0 o f r e v e n u e i n R e n t o n 14 Am o u n t D u e u n d e r p e r em p l o y e e l i c e n s e f e e s Ta x D u e u n d e r B & O I n c r e a s e ( D e c r e a s e ) I n T a x Due $8 7 0 . 0 0 $ 5 0 0 . 0 0 ( $ 3 7 0 . 0 0 ) AGENDA ITEM #2. a) Ex a m p l e s o f I m p a c t ( C o n t . ) ■ Bu s i n e s s l o c a t e d ou t s i d e th e C i t y o f R e n t o n – 1 E m p l o y e e l o c a t e d i n R e n t o n – $8 0 0 , 0 0 0 o f R e n t o n R e v e n u e 15 Am o u n t D u e u n d e r p e r em p l o y e e l i c e n s e f e e s Ta x D u e u n d e r B & O I n c r e a s e I n T a x D u e $6 7 . 5 8 $ 6 8 0 . 0 0 $ 6 1 2 . 4 2 AGENDA ITEM #2. a) Su m m a r y ■ Ne e d t o e l i m i n a t e p e r e m p l o y e e f e e s t o c o m p l y w i t h H B 2 0 0 5 ■ Jo i n i n g F i l e L o c a l a s o u r o n l i n e s t a t e s p o n s o r e d f i l i n g p o r t a l ■ Re c o m m e n d a t i o n : – El i m i n a t e P e r E m p l o y e e F e e – Lo w e r T h r e s h o l d t o $ 5 0 0 , 0 0 0 ■ Ov e r 1 2 0 0 b u s i n e s s e s w i l l s e e a t a x d e c r e a s e ■ Ar o u n d 5 0 0 b u s i n e s s e s w i l l s e e t a x i n c r e a s e ■ Ch a n g e w i l l b e r e v e n u e n e u t r a l a n d w i l l p o s i t i v e l y i m p a c t s m a l l b u s i n e s s e s 16AGENDA ITEM #2. a) Qu e s t i o n s ? Co n t a c t : Na t e M a l o n e , T a x A u d i t o r 4 2 5 - 4 3 0 - 6 9 3 6 nm a l o n e @ r e n t o n w a . g o v Ka r i R o l l e r , F i n a n c i a l S e r v i c e s M a n a g e r 4 2 5 - 4 3 0 - 6 9 3 1 kr o l l e r @ r e n t o n w a . g o v 17AGENDA ITEM #2. a)