(A) The County Council has determined that it would be beneficial to the citizens of the county to impose a county economic development income tax.
(B) The County Council has determined that it would be beneficial to the citizens of the county to impose a rate increase on the county economic development income tax to replace revenue that is being lost due to the phase out of the inventory tax.
(C) The County Council imposes the county economic development income tax on the county taxpayers of the county. The county economic development income tax is imposed at a rate of 0.5%. This tax rate increase takes effect July 1, 2006.
(D) The County Council has determined that it would be beneficial to the citizens of the county to have the increase in the economic development income tax given to the property owners of the county in a uniform method whereas property owners who filed a homestead credit will receive the additional credit.
(Ord. 2-13-1992, passed 2-13-1992; Ord. 2006-3-23, passed 3-23-2006; Ord. 2007-5-15, passed 5-15-2007)