To provide funds for the purposes of general municipal operations, procurement of fixed assets or permanent improvements, payment of debt charges, the elimination of deficits in Village funds, and for all other lawful purposes, there shall be and is hereby levied a tax on all salaries, wages, commissions, and other compensations, and on net profits as hereinafter provided. The tax is an annual tax levied on the income of every person residing in or earning or receiving income in the Village. The tax shall be measured by municipal taxable income. The Village is levying the tax in accordance with the limitations specified in this chapter. The provisions of Chapter 718 of the Ohio Revised Code are incorporated herein by reference. The applicable tax rate levied shall be 2.5 percent (.025).
(Ord. 2015-54. Passed 12-9-15.)