(A) On July 1 of each year after July 1, 1978, the occupational license tax established by ordinance, as passed by the Fiscal Court of the county as Ordinance 430.1, on the 2nd day of May 1978 to become effective on the June 1, 1978, of $120 in § 110.03 of this chapter will be increased or decreased to reflect business and economic fluctuations. For this purpose, the Consumer Price Index (1976-1969 Index = 100, for all items, hereinafter called INDEX), for Cincinnati, Ohio published by the Bureau of Labor Statistics of the United States Department of Labor, for the month of July, 1978, shall be the base month for calculating adjustments to the fixed annual occupational license tax. If the INDEX for July, 1979, and for each corresponding month at the end of each year thereafter, shows a decrease or increase in the purchasing power of the fixed amount occupational license tax in § 110.03, as compared in each case to the INDEX for the month of July, 1978, the fixed annual occupational license tax for the succeeding year shall be adjusted accordingly to the nearest whole dollar.
(B) If at the time required for the determination of the occupational license fee tax adjustment, the INDEX is no longer published or issued, the Fiscal Court shall use such other index as is then generally recognized and accepted for similar determinations of purchasing power.
(Ord. 07-27, passed 12-18-07)