The Beverly Hills Chamber of Commerce on Tuesday voted to oppose a March ballot measure that would increase taxes on many businesses in the city.

Measure P on the March 3 ballot would hike business taxes paid by doctors, lawyers and accountants, hike the tax on oil extracted from beneath the city and impose a 10 percent tax on private parking garages in the city. It would raise between $5 million and $7 million a year for the city’s general fund, starting next year.

The 38-member chamber board called the tax hikes a case of bad timing.

“Many local businesses have expressed serious concern to the chamber about adding taxes during an economic recession,” said Chairwoman Vicky Mense. “The board agreed that Measure P was not widely vetted in the business community and would create economic hardship for local businesses and consumers.”