(A) To provide funds for the municipal purposes of general municipal operations, procurement of fixed assets or permanent improvements, payment of debt charges, the elimination of deficits in Village of Gates Mills ("Village" or Municipality") funds and for all other lawful purposes, there shall be, and is hereby levied a tax on income, qualifying wages, and commissions, as defined in this Chapter, and on all other taxable income, as hereinafter provided.
(B) For the purposes set forth above, on or after January 1, 2016, an annual tax of one percent (1%) per annum shall be imposed upon income, qualifying wages, and commissions, as defined in this Chapter, and on all other taxable income, as hereinafter provided.
(Source: ORC 718.04)(Ord. 2015-28. Passed 11-11-15.)