Effective January 1, 2008, there shall be a nonhome rule municipal retailers' occupation tax and nonhome rule municipal service occupation tax imposed:
A. Upon all persons engaged in the business of selling tangible personal property, other than an item of tangible personal property which is titled and registered by an agency of this state's government, at retail in the municipality at the rate of 0.5 percent of the gross receipts from such sales made in the course of such business while this chapter is in effect for the purpose of property tax relief to avoid an increase in the levy of real estate taxes; and
B. Upon all persons engaged in this municipality in the business of making sales of service, at the rate of 0.5 percent of the selling price of all tangible personal property transferred by such servicemen in the form of tangible personal property or in the form of real estate as an incident to a sale of service, for the purpose of property tax relief to avoid an increase in the levy of real estate taxes. (Ord. 09-07, 9-10-2007)