(a) There is hereby levied a tax at the rate of one and one-half percent (1.5%) on salaries, wages, commissions and other compensation and on net profits, as here and after provided. Not more than nine-tenths of the proceeds of the levy of such tax shall be used to provide funds for the purpose of financing general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements of the City and not less than one-tenth of the proceeds of the levy of such tax shall be used only to provide funds for the purpose of financing capital improvements of the City.
(b) The provisions of this Chapter 195 shall apply only to taxable years beginning prior to January 1, 2016. With the adoption of Ordinance 15-319, this Chapter 195 shall continue in effect and shall continue to govern the administration, collection, and enforcement of the City’s municipal income tax for taxable years 2015 and before.
(Ord. 15-319, passed 12-8-15; Ord. 04-365, passed 11-2-04 by election.)