(A) There is assessed, imposed, and levied on every insurance company, corporation, or other insurer now engaging in or carrying on, or which shall hereafter engage in or carry on the business of property insurance, as shown by the records of the Insurance Commissioner of the state, an excise or license tax in addition to any business tax or excise tax now levied by the city, which shall be in the amount of 2% of the gross amount of receipts of premiums from policyholders on all premiums collected on property insurance policies covering property within the corporate limits of the city. The business or excise tax herein levied shall be due and payable annually on March 1 of each year.
(Ord. 34, passed 10-15-75; Am. Ord. 1221, passed 10-19-06)
(B) There is assessed, imposed, and levied on every insurance company, corporation, or other insurer now engaged in or carrying on, or which shall hereafter engage 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, an excise or business tax in addition to any license tax or excise tax now levied by the city, which shall be in the amount of l% of the gross amount of receipts of premiums from policyholders on all premiums collected on casualty insurance policies, covering property within the corporate limits of the city. The license or excise tax herein levied shall be due and payable annually on March 1 of each year.
(Ord. 35, passed 10-15-75; Am. Ord. 1221, passed 10-19-06)