A taxing effort<\/p>\n
The Milpitas City\u202fCouncil on Aug. 3 unanimously approved placing a measure on the Nov. 3 ballot to update the city\u2019s business tax\u00a0structure.<\/p>\n
Under the current 50-year-old tax structure, some smaller businesses pay over 70 times more per employee\u00a0than what larger businesses and corporations pay. The measure is designed to address this disparity and ensure that large businesses contribute more than smaller businesses to fund essential city services.<\/p>\n
If approved by voters, all\u00a0businesses would pay an annual flat rate, while larger businesses with more than $700,000 in annual gross receipts would also pay between 0.025% and 0.035%\u00a0(25 to 35 cents per $1,000)\u00a0on that amount.<\/p>\n
\u201cThe proposed measure was placed on the ballot following a\u00a0six-month\u00a0engagement effort with Milpitas\u00a0business owners\u00a0and\u00a0stakeholders,\u00a0as well as more than\u00a0700\u00a0residents,\u201d said City Manager Willie\u00a0Hopkins in a release. \u201cThe\u00a0city\u00a0needs additional local\u00a0funding\u00a0to\u00a0help clean up and prevent illegal\u00a0dumping\/neighborhood blight, and address homelessness by helping move people off\u00a0the street and into shelter, treatment and supportive services.\u201d<\/p>\n
Funds from the updated business tax would also go toward replacing aging water and sewer lines, repairing storm drains and keeping neighborhood streets and sidewalks clean and well maintained.<\/p>\n