(A) To provide funds for purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements of the Municipality there shall be levied a tax on municipal taxable income, salaries, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided.
(B) Subject to the provisions of division (A) of this section, an annual tax shall be levied at the rate of two and one-quarter per cent (2.25%) per annum.
(C) Upon approval of the electorate of the City of Trotwood, an additional temporary income tax shall be levied at the rate of one-half of one percent (0.5%) per annum for the purpose of installation and/or improvements of street paving and roadways, curbs and gutters, pavement milling and striping, crosswalks, all traffic signals, Americans with Disabilities Act (ADA)-compliant ramps, street signage, water management resources, grading, safety equipment and safety compliance materials, and/or the labor and materials for the same. This additional temporary tax of one-half of one percent (0.5%) shall be effective for the period of January 1, 2023 through December 31, 2027. Accordingly, for the period of January 1, 2023 through December 31, 2027, the total annual tax to be levied shall be at the rate of two and three-quarter percent (2.75%). (Ord. 21-22. Passed by voters 11-8-22.)