(a) For the purpose of providing funds for general Municipal functions, the Village hereby levies an annual municipal income tax on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided.
(b) (1) The annual tax is levied at a rate of 2.5%. The tax is levied at a uniform rate on all persons residing in or earning or receiving income in the Village. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 883.03 of this Chapter and other sections as they may apply.
(2) Effective January 1, 2022, 5% of the net income tax funds collected under the provisions of this chapter shall be deposited into the Capital Projects Fund.
(3) Effective January 1, 2020, fifty-four thousand dollars ($54,000.00) of the income tax funds collected on a monthly basis under the provisions of this Chapter shall be deposited into the Debt Services Fund.
(c) The tax on income and the withholding tax established by this Chapter 883 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 R.C. Chapter 718.
(Ord. 2015-85. Passed 11-11-15; Ord. 2016-12. Passed 2-10-16; Ord. 2016-108. Passed 11- 9-16; Ord. 2019-107. Passed 12-11-19; Ord. 2020-28. Passed 4-8-20; Ord. 2022-10. Passed 1-12-22.)