§ 16-172. Tax on casualty insurance premiums.

(a)

Imposed. There is hereby assessed, imposed and levied on every insurance company, corporation or other insurer now engaging in or carrying on, or which shall hereafter engaged in or carry on the business of insuring with respect to casualty risks, as shown by the records of the Insurance Commissioner of the State of Florida, an excise or license tax in addition to any license tax or excise tax now levied by the city which tax shall be in the amount of eighty-five hundredths (0.85) percent of the gross amount of receipts of premiums from policy holders on all premiums collected on casualty insurance policies, covering property within the corporate limits of the city.

(b)

Cancellation endorsement. Such policy shall contain an endorsement placed on the same, requiring thirty (30) days' written notice, by certified mail, to the finance director if it becomes necessary for the issuing company to cancel the policy for any reason.

(c)

When due and payable. The license or excise tax herein levied shall be due and payable annually on the first day of November of each year thereafter.

(Code 1956, §§ 32-5, 32-6; Ord. No. 80-10, § 14, 7-21-80; Ord. No. 2013-31, § 7, 6-18-13)

State law reference

Tax on casualty insurance premiums for policemen's retirement fund, F.S. § 185.08.