Pasadena : Tax Revisions Approved

Starting next month, banks and other financial institutions will have to pay city business license fees for the first time, under tax revisions approved Tuesday by the Board of Directors.

Among other new regulations, which will take effect later than the new fees for financial institutions, are fees based on square footage of commercial and industrial buildings, a $60 inspection fee for businesses that fail to obtain licenses, and an increase in delinquent business license fees.

The changes are expected to add as much as $500,000 a year to the city’s General Fund. Directors instructed the city attorney to devise ordinances incorporating the revisions.

The Pasadena Chamber of Commerce worked for three months with city officials on the new regulations and will present information on them at a 7:30 a.m. breakfast Tuesday at Premiere, 40 S. Pasadena Ave.