To provide funds for the purpose of general municipal operations and for other municipal needs of the City, there is hereby levied a tax upon qualifying wages, commissions and other compensation, and on net profits and other taxable income as hereinafter provided at the following rate: a half percent (1/2%) per year for the years July 1, 1956 through December 31, 1963, one percent (1%) per year for the period January 1, 1964 through March 31, 1988, one and one-half percent (1-1/2%) per year commencing April 1, 1988 and thereafter.
(Ord. 2003-3303. Passed 12-4-03.)