(a) The purpose of this chapter is to provide additional funds for the discharge of general municipal functions of the Village, including, without limitation, for managing the safety needs of the Village, for street and sewer maintenance, for building maintenance, repair and construction, for existing recreational needs, and for staffing requirements of the Village.
(b) There is hereby levied a tax on municipal taxable income, to wit - salaries, wages, commissions and other compensation and all other individual income subject to tax under Section 891.05, and on net profits under Section 891.07, earned within the Village, as the Village is defined in Section 891.04(c)(49), as hereinafter provided, at the rate of 2.5% per annum.
(Ord. 2015-6. Passed 11-17-15.)