(A) Purpose of tax. This tax is imposed to provide funds for the purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities, and capital improvements of the city.
(B) Rate of tax. For the purposes specified in division (A) of this section, a tax is levied at a rate of 1% per annum on municipal taxable income as defined herein.
(Ord. 8-2015, passed 11-4-15)
Statutory reference:
Related provisions, see R.C. § 718.04