(a) Rental income received by a taxpayer shall be included in the computation of net profits from business activities under Section 181.03 of the Codified Ordinances of the Village of Sheffield, Ohio only if and to the extent that the rental, ownership, management or operations of the real estate from which such rentals are derived (whether so rented, managed or operated by a taxpayer individually or through agents or other representatives) constitutes a business activity of the taxpayer in whole or part.
(b) Where the gross monthly rental of any and all real properties regardless of number and value, aggregates in excess of two hundred fifty dollars ($250.00) per month, it shall be prima-facie evidence that the rental, ownership, management or operation of such properties is a business activity of such taxpayer, and the net income of such rental property shall be subject to tax; provided that in the case of commercial property, the owner shall be considered engaged in a business activity when the rental is based on a fixed or fluctuating percentage of gross or net sales, receipts or profits of the lessee, whether or not such rental exceeds two hundred fifty dollars ($250.00) per month; further that in the case of farm property, the owner shall be considered engaged in a business activity when he shares in net receipts derived from the farm, whether or not the gross income exceeds said two hundred fifty dollars ($250.00) per month; and provided further that the person who operates a licensed rooming house shall be considered in business whether or not the gross income exceeds two hundred fifty dollars ($250.00) per month.
(c) All property owners of rental or leased property, who rent to tenants of residential, commercial or industrial premises, shall file with the Village Administrator a report showing the name and address of each such tenant who occupies residential, commercial or industrial premises
within the boundaries of the Village.
(d) Within thirty (30) days after a new tenant occupies residential, commercial or industrial rental property of any kind within the Village, all property owners of rental or leased residential, commercial or industrial property who rent to tenants shall file with the Village Administrator a report showing the name and address of each such tenant who occupies residential, commercial or industrial premises within the boundaries of the Village.
(e) Within thirty (30) days after a tenant vacates a rental or leased residential, commercial or industrial property located within the Village, the property owner of such vacated rental or leased property shall file with the Village Administrator a report showing the date of vacating from the rental or leased residential, commercial or industrial property and identifying such vacating tenant(s). (Ord. 2497. Passed 7-13-15.)