(A) There is hereby assessed and imposed on every insurance company, corporation, or other insurer now engaged in or carrying on, or who shall hereafter engage in or carry on, the business of insuring property against loss or damage by fire or tornado, an excise or license tax amounting to 2% of the gross amount of receipts of premiums from policy holders on all premiums collected on fire and tornado insurance policies covering property within the corporate limits of the city.
('58 Code, § 45.02) (Ord. 64-9, passed 10-22-63)
(B) The license tax herein assessed and imposed shall be in addition to all other license taxes now levied by the city.
('58 Code, § 45.03)
(C) The excise or license tax herein provided for shall be payable and collected in the manner provided for by F.S. Chapter 175, providing for the creation and administration of a Firemen’s Relief and Pension Fund in certain cities and towns.
('58 Code, § 45.04)
(D) All money derived from the taxes imposed by this section is hereby appropriated to the Firemen's Relief and Pension Fund of the city which shall be administered in accordance with the provisions of F.S. Chapter 175, providing for the creation of a board of trustees of the Municipal Firemen's Pension Trust Fund in certain cities and towns.
('58 Code, § 45.05) (Ord. 303, passed - -39; Am. Ord. 69-22, passed 1-20-69)
(E) It shall be unlawful for any person to write, solicit, or sell any insurance in the city for any insurance company not having a city business tax receipt.
(‘58 Code, § 45.06) (Am. Ord. 2007-57, passed 7-10-07)
Cross-reference:
License tax, see § 113.39
Statutory reference:
Authority of municipalities to levy tax on insurance companies, see F.S. § 175.05 et seq.