(a) To provide funds for the general fund for any and all general municipal operations, projected capital requirements, maintenance on City properties and the establishment of adequate reserves for the normal operations of the City, there is levied, subject to any exemptions the City may enact that are permitted for qualified municipal corporations under R.C. § 718.01(A)(1)(b)(ii), an annual tax on the income of every person residing in or earning or receiving income in the city. The tax shall be measured by municipal taxable income, as that term is defined in R.C. § 718.01(A).
(b) The tax is levied in accordance with, and shall be interpreted consistent with, the limitations specified in ORC 718, and this chapter hereby incorporates the provisions of ORC 718. To the extent a conflict exists between a provision in this chapter and a provision in ORC 718, the provision in ORC 718 shall apply and control. (Ord. 01-2018. Passed 2-26-18.)