§ 5-61. Levied; amount.

There is hereby assessed, imposed and levied on every insurance company, corporation or other insurer now engaging in or carrying on, or which shall hereafter engage in or carry on, the business of insuring with respect to casualty risks, as shown by the records of the insurance commissioner of the state, an excise or license tax in addition to any license tax or excise tax now levied by the city, which tax shall be in the amount of eighty-five hundredths (.85) percent of the gross amount of receipts of premiums from policyholders on all premiums collected on casualty insurance policies covering property in the corporate limits of the city.

(Code 1972, § 21-46)