eLaws | eCases | Florida State | Florida Administrative Code | Florida Courts | Counties & Cities of Florida | Code of Federal Regulations | United States Code |
 Delray Beach
 Code of Ordinances
 Title 11. BUSINESS REGULATIONS
 Chapter 116. INSURANCE COMPANIES

  § 116.02. CASUALTY INSURANCE PREMIUMS TAX.

Latest version.

  • (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 casualty insurance as shown by the records of the State Department of Insurance, an excise tax in addition to any lawful license or excise tax now levied by the City, in the amount of eighty-five hundredths percent 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.

    (B)

    In the case of multiple-peril policies with a single premium for both property and casualty coverages in such policies, thirty (30) percent of such premium shall be used as the basis for the eighty-five hundredths percent tax above.

    (C)

    Said excise tax shall be payable annually March 1 of each year.

    (D)

    All money derived from this tax shall be appropriated to the City's Police Officer Retirement Trust Fund, which shall be administered in accordance with F.S. Chapter 185.

(F.S. § 185.08; Code 1980, § 25-11)