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(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, the Village of Silverton (the village) 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 1.25%. The tax is levied at a uniform rate on all persons residing in or earning or receiving income in the village. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in § 39.03 and other sections as they may apply.
(2) There is created an Earnings Tax Fund in which all moneys collected under the provisions of this chapter shall be deposited. These funds shall be disbursed in accordance with divisions (a) through (b) hereof.
(a) Street, highway and drainage construction, maintenance, and repair.
(b) Capital improvements and acquisition of major motorized equipment.
(c) General municipal operations.
(d) Any other use permitted or authorized by state or federal law.
(C) The tax on income and the withholding tax established by this chapter 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 R.C. Chapter 718.
(Ord. 15-3486, passed 11-19-15; Am. Ord. 18-3579, passed 2-22-18)