Label
Continuation of the 1/4% Income Tax Levy
Title
Providing for an election on the question of the approval of the passage of an ordinance to amend Chapter 1905 of the Toledo Municipal Code to provide for the continuation of the City's existing temporary one-quarter percent (1/4%) municipal income tax for a period commencing January 1, 2025 and ending December 31, 2028, to continue to provide funds to pay costs of improving the City's system of roads, streets and bridges and to continue to provide for all of the proceeds of that tax to be credited to a separate Road Improvements Fund and the net proceeds, after the costs of its administration, enforcement and collection, to be dedicated and applied solely for that purpose; and declaring an emergency.
Summary
WHEREAS, Chapter 1905 of the Toledo Municipal Code currently provides for, among other things, the levying of one percent and one-half percent municipal income taxes that are in effect for a continuing period of time (the Continuing Levies); and
WHEREAS, on November 3, 2020, the voters of the City of Toledo approved, and on November 17, 2020 the Council passed, Ordinance 283-20, providing for an additional temporary one-quarter percent (1/4%) municipal income tax, with all net levy proceeds, after its costs of administration, enforcement and collection, dedicated and credited to a separate City Road Improvements Fund and applied solely to pay costs of improving the City's system of roads, streets and bridges, including related debt charges, which tax is in addition to the Continuing Levies and any other income tax levied for a purpose set forth in an ordinance approved by the electors of the City and this Council; and
WHEREAS, that temporary one-quarter percent (1/4%) municipal income tax is scheduled to expire on December 31, 2024; and
WHEREAS, this Council desires and believes it necessary to approve an ordinance to provide for the continuation of the one-qua...
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