1. To provide funds for the purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvement in the City there shall be, and is hereby levied a tax on salaries, wages, commissions and other compensation, and on net profits as hereinafter provided.
2. Rate of tax: An annual tax for the purposes specified in division (1) of this section shall be imposed on and after January 1, 2016, at the rate of one and one-half percent (1 ½ %) per annum upon salaries, wages, commissions and other compensation, and on net profits as hereinafter provided.
(Ord. 2015-20. Passed 10-12-15.)