(A) To provide funds for the purposes of general Municipal operations, procurement of fixed assets or permanent improvements, payment of debt charges and for all other lawful purposes of the City of Fairview Park, ("City") there is hereby levied an annual municipal income tax on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided. In addition, there is hereby levied an annual municipal income tax on income, qualifying wages, commissions and other compensation, and on net profits, as hereinafter provided, to provide funds for the purpose of acquiring, constructing, operating, maintaining and otherwise improving permanent improvements and their sites, including recreational facilities as an integral part of a cooperative project with the Fairview Park City School District, and paying debt charges related thereto.
(B) (1) The annual tax is levied at a rate of two percent (2.00%) per annum until December 31, 2021, on which date the tax rate shall revert back to one and three-quarters percent (1.75%). The tax is levied at a uniform rate on all persons residing in or earning or receiving income in the City. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 174.03 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 174 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. (Ord. 15-42. Passed 11-16-15.)