The minimum business tax, the per connection tax, and the cap referenced in Section 4.76.480 above, shall each be adjusted annually, commencing July 1, 2018, and every year thereafter,
if the cost of living in the city has increased over the preceding base period as
shown by the CPI Index, but in no event shall the adjustment exceed three percent
per year on the tax based on the number of active metered connections, and three percent
per year on the cap, and one and one-half percent per year on the minimum business
tax. For purposes of this section, the base period for the first adjustment period
commencing on July 1, 2018 shall be the CPI Index reported for February 2017 to February
2018. The base period for each subsequent adjustment period thereafter shall be February
to February. In the event the CPI Index is no longer published, the director shall
use as a reference another index published by either the State of California or a
federal department or agency that is charged with the responsibility of measuring
the cost of living in the geographical area that includes the city.
(Measure G (Ord. 2016.2), adopted by electorate, 12-13-16)
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