(A) Purpose of Tax. To provide funds for the purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements of the Village, there shall be, and is hereby levied, a tax on income subject to tax as hereinafter provided.
(B) Rate of Tax. An annual tax for the purposes specified in this chapter shall be imposed at the rate of one percent (1.0%) per annum on and after January 1, 2016.
(Ord. 2015-43. Passed 11-23-15.)