(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 City of Troy, Ohio, there shall be levied a tax on municipal taxable income, salaries, qualifying wages, commissions and other compensation, and on net profits as herein provided. (Ord. 40-15. Passed 11-16-15.)
(B) An annual tax for the purposes specified in division (A) of this section which shall be, and hereby is, levied on and after July 1, 1989 at the rate of one and one-half percent (1.5%) per annum; and subject to the limitation as set forth in Ordinance O-16-92, in that the purpose of the collection of the income tax under this section shall be used solely for the capital and operating needs of police, fire, and public safety related services; an annual tax for such purposes shall be imposed beginning January 1, 1993, at the rate of an additional .25 percent (0.25%) per annum in the same manner as set forth above; an annual tax for parks and recreational purposes shall be, and hereby is, levied beginning on January 1, 2018 and ending on December 31, 2027 at the rate of an additional one quarter of one percent (0.25%) per annum and subject to the limitations set forth in Ordinance No. O-61-2016 and in the same manner as set forth herein.
(Ord. 61-2016. Passed 1-3-17.)