(A) For the purpose of providing funds for general Municipal functions of the Municipality there is hereby levied an annual municipal income tax on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided. On or after January 1, 2017, all moneys received by the Municipality from the additional thirty-five hundredths percent (0.35%) increase shall be allocated solely to the Permanent Improvement Fund and the monies received from the existing one and one-half percent (1.5%) tax rate shall be allocated into the General Fund.
(B) (1) Effective January 1, 2017, the annual tax is levied at a rate of one and eighty-five hundredths percent (1.85%). The tax is levied at a uniform rate on all persons residing in or earning or receiving income in the Municipality. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 124.03 of this chapter and other sections as they may apply.
(2) Intentionally left blank.
(C) The tax on income and the withholding tax established by this Chapter 124 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. 2018-22. Passed 3-26-18.)