(A) To provide funds for the purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements, Oberlin hereby levies an annual municipal income tax on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided.
(B) (1) The annual tax is levied at a rate of 2.5% (two and one-half percent). The tax is levied at a uniform rate on all persons residing in or earning or receiving income in Oberlin. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 184.03 of this Ordinance and other sections as they may apply.
(2) The tax of two and one-half percent (2.5%) so imposed shall be allocated as follows:
(a) Such part thereof as shall be necessary to defray all cost of collecting the taxes and the cost of administering and enforcing the provisions thereof.
(b) A sum equal to the amount of taxes collected per year from the additional one-half percent (½%) in effect from January 1, 2004, shall be used for capital improvements and operating expenses.
(Ord. 17-59 AC CMS. Passed 12-4-17.)
(c) A sum equal to the amount of taxes collected per year from the additional one-fifth of one percent (1/5%) in effect from January 1, 2019 through December 31, 2028 shall be used for capital improvements and general operating expenses, including debt service on obligations issued to finance such activities.
(Ord. 17-62 AC CMS. Passed 12-18-17.)
(d) A sum equal to the amount of taxes collected per year from the additional one-fifth of one percent (1/5%) in effect from January 1, 2015 through December 31, 2019, shall be used for the purpose of providing funds for operating and capital improvement expenses for the City of Oberlin.
(e) A sum equal to the amount of taxes collected per year from the additional three-fifths of one percent (3/5%) in effect from January 1, 2015 through December 31, 2024, shall be used for the purpose of providing funds for operating and capital improvement expenses for the City of Oberlin.
(f) The balance (one percent (1.0%)) of such tax receipts collected shall be allocated to the General Fund of the City.
(C) The tax on income and the withholding tax established by this Ordinance 15-58 AC CMS are authorized by Article XVIII, Section 3 of the Ohio Constitution. The tax is levied in accordance with, and is intended to be consistent with, the provisions and limitations of Ohio Revised Code 718 (ORC 718). Municipal taxable years beginning on or before December 31, 2015, are subject to the income tax ordinance and amendments thereto, and rules and regulations and amendments thereto, as they existed before January 1, 2016.
(Ord. 17-59 AC CMS. Passed 12-4-17.)