The Lake County Board of County Commissioners took the first step today to repealing a tax on businesses in the unincorporated area.
The tax – known as a Business Tax Receipt (BTR) – is currently required for any business to operate in 31 Florida counties, including Lake County. The tax rate varies according to the business type, size and location. The Board’s action today calls for a required public hearing on February 11, 2020, to change the rate for all Lake County BTRs to $30 beginning in the current fiscal year, reduce it further to $15 in fiscal year (FY) 2021, and eliminate the tax in FY 2022.
“Reducing and ultimately repealing this tax on businesses will make it easier for people who want to do business in Lake County,” said Lake County Commissioner Josh Blake, who first brought the issue to the Board.
The revenue collected from the BTRs – currently about $192,000 annually – is disbursed to the County and municipalities. The Board’s action will not impact any BTRs separately established by municipalities, and it will not impact property taxes assessed.
“I appreciate the Board’s support and wisdom in taking this step to eliminating a tax burden on local businesses,” said Lake County Tax Collector David Jordan, who has been a strong advocate for eliminating the tax.
To learn more about the current Business Tax Receipt tax, visit https://www.laketax.com/business-tax-receipts.