(A) The ERU rate to be applied monthly to residential and nonresidential properties shall be as follows:
(1) Commencing July 1, 2025, the ERU rate shall equal $4.75.
(2) Commencing July 1, 2026, the ERU rate shall equal $5.
(3) Commencing July 1, 2027, the ERU rate shall equal $5.25.
(4) Commencing July 1, 2028, the ERU rate shall equal $5.50.
(5) Commencing July 1, 2029, the ERU rate shall equal $5.75.
(B) The monthly rate for each fiscal year thereafter shall be determined by ordinance of the City Council prior to July 1 of each year.
(Ord. 2386, passed 10-19-2020; Ord. 2451, passed 9-9-2024)