(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 of the City as well as Street construction, maintenance, repairs and improvements and costs and expenses related thereto there is hereby levied a 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 1.5% (one and one half percent). The tax is levied at a uniform rate on all persons residing in or earning or receiving income in The City of Vermilion (the City). The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 882.04
of this Chapter and other sections as they may apply.
(B) (2) The first 1% collected under the provisions of this ordinance shall be deposited in the General Fund. The additional .5% collected shall be deposited in the Road Improvement Levy Fund in accordance with Ordinance 2013-9. Said funds shall be disbursed in accordance with the provisions contained in the annual "Appropriations Ordinance".
(C) The tax on income and the withholding tax established by this Chapter 882
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 Ohio Revised Code 718 (ORC 718).
(Ord. 2018-19. Passed 4-2-18.)