(A) To provide funds for the purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements, the City of Belpre, Ohio, hereby levies an annual municipal income tax on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided.
(B) (1) The annual tax is levied at a rate of 1% (one percent). The tax is levied at a uniform rate on all persons residing in or earning or receiving income in the City of Belpre, Ohio. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 181.03 and other sections as they may apply.
(2) The funds collected under this Ordinance shall be allocated as follows: 60% (sixty percent) to the General Fund, Account #101, and 40% (forty percent) to the Capital Improvement Fund, Account #301. Collections allocated to the Capital Improvement Fund, Fund #301, shall be capped at $250,000 (two hundred fifty thousand dollars) per year, with 100% (one hundred percent) of funds collected under this Ordinance above $250,000 (two hundred fifty thousand dollars) per year to be allocated to the General Fund, Account #101.
(C) The tax on income and the withholding tax established by this Chapter 181 are authorized by Article XVIII, Section 3 of the Ohio Constitution. The tax is levied in accordance with, and is intended to be consistent with, the provisions and limitations of Ohio Revised Code 718 (ORC 718).
(Ord. 24(2016-17). Passed 12-11-17.)