In addition to the tax provided for under Section 195.01, which is levied at a rate of one and one-half percent (1-1/2%), an annual tax of one-half percent (1/2%) for the purposes specified in Section 195.01 hereof shall be imposed on and after July 1, 2000, and ending June 30, 2015. Such tax shall be levied and collected in the same manner as the tax provided for in Section 195.01. Provided, however, that during the period that a tax levied on salaries, wages, commissions, and other compensation and on net profits, is at an aggregate rate of two percent (2%) or more, there shall be a reduction in the tax levy upon the tax lists or duplicate of property listed for taxation according to value for all the purposes of The City of Springfield, Ohio, of 2.7 mills less than the total number of mills levied in behalf of the City in fiscal year 1975, beginning in fiscal year 2001 and for each year through fiscal year 2015.
(Ord. 99-457. Passed 5-4-99 by election.)