173.012 PURPOSES OF TAX; RATE.

   (A)   The purpose of the tax is to provide funds for the purposes as set forth in Section 173.012(B).

   (B)   An annual tax shall be imposed at the rate of two percent (2%) per annum upon taxable income as set forth in this chapter, with one and one-half percent (1 ½%) of such tax to provide funds for the purposes of general municipal functions of the Village and one-half percent (½%) of such tax to provide funds for operating expenses of the Police Department, Fire and EMS Service Costs and Village Vehicle Replacement Funds.

(Ord. 4014. Passed 2-4-19.)