(A) Every individual taxpayer domiciled in City of Garfield Heights who is required to and does pay, or has acknowledged liability for, a municipal tax to another municipality on or measured by the same income, qualifying wages, commissions, net profits or other compensation taxable under this Chapter may claim a nonrefundable credit upon satisfactory evidence of the tax paid to the other municipality. Subject to division (C) of this section, the credit shall not exceed 100% of the amount obtained by multiplying the income, qualifying wages, commissions, net profits or other compensation subject to tax in the other municipality by the lower of the tax rate in such other municipality or the rate of 2%.
The amount of tax credit shall be reviewed by the Finance Committee of Council from time to time and such Committee shall make its recommendations as to future tax credits to Council at least semiannually. Council shall be empowered to raise the tax credit by amendments hereto; however any decrease in the tax credit shall be submitted to a vote of the electorate at any election in accordance with the laws of the State and Charter of the City.
(B) City of Garfield Heights shall grant a credit against its tax on income to a resident of City of Garfield Heights who works in a joint economic development zone created under Section 715.691 or a joint economic development district created under Section 715.70, 715.71, or 715.72 of the ORC to the same extent that it grants a credit against its tax on income to its residents who are employed in another municipal corporation.
(C) If the amount of tax withheld or paid to the other municipality is less than the amount of tax required to be withheld or paid to the other municipality, then for purposes of division (A) of this section, "the income, qualifying wages, commissions, net profits or other compensation" subject to tax in the other municipality shall be limited to the amount computed by dividing the tax withheld or paid to the other municipality by the tax rate for that municipality.
(D) Intentionally left blank.
(Ord. 47-2015. Passed 10-26-15.)