(A) Upon every person engaging or continuing within this city in the business of furnishing any real or tangible personal property which has a tax situs in this city, or any interest therein, for hire, loan, lease, or otherwise, whether the return be in the form of rentals, royalties, fee, or otherwise, the tax shall be 1% of the gross income of any such activity. There is excepted, however, from the provisions of this section, the first $1,500, or other amount deemed appropriate by the Municipal Court, of rent collected by any person from the rental and residentially occupied real estate.
(B) The term TANGIBLE PERSONAL PROPERTY as used herein shall not include money or public security.
(Ord. passed 12-18-1998)