A. The amount of license fee to be paid to the city by persons commencing or conducting any business subject to this chapter are set forth in this chapter.
B. Beginning on January 1, 2025, license fees imposed in this title will be increased annually each January 1 on a percentage basis using the percentage increase in the consumer price index ("CPI") for all urban consumers as calculated by the United States department of labor, bureau of labor statistics, for the Los Angeles-Long Beach-Anaheim area, all items, calculated as follows:
1. The five (5) most recent annual CPI percentages are added together and then divided by five (5) to derive the five-year average CPI percentage (“ACPI”); and
2. The ACPI is multiplied by the amount of existing license fees. The product of that multiplication is added to the amount of the license fees imposed by the city for the previous calendar year.
3. For purposes of this section, an “annual CPI percentage” is the percentage change in CPI based upon comparing a twelve-month period ending on March 31 with the subsequent twelve-month period ending on March 31. For example, and without limitation, on January 1, 2025, the ACPI will be calculated using the five (5) years of CPI percentages that include the following time periods: March 31, 2019 to March 31, 2020; March 31, 2020 to March 31, 2021; and calculated in the same manner for the subsequent years with the final and fifth year CPI percentage measured from March 31, 2023 to March 31, 2024.
C. Notwithstanding any other provisions of this code, license fees imposed in this chapter will be increased by a minimum of one cent ($0.01) every two (2) calendar years. (Ord. 1439, 4-13-2010; amd. Ord. 1643, 12-13-2022)