Label
Dept. of Law
Title
[O-642-23]Amending Section 1905.011 of the Toledo Municipal Code to provide, among other matters, 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 dedicated and applied solely for that purpose after provision for the costs of collection, administration and enforcement of the tax.
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SUMMARY & BACKGROUND:
At the election held on March 19, 2024, the electors of the City of Toledo voted to approve this Ordinance for the continuation of existing temporary quarter percent (1/4%) income tax for the purpose of improving the City's system of roads, streets and bridges.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That Section 1905.011 of the Toledo Municipal Code, as presently written, to wit:
"1905.011 Declaration of Purpose and Levying of an Additional Tax for Improvements to the City's System of Roads, Streets and Bridges and for the Imposition, Crediting, Allocation and Use of the Proceeds of that Tax.
(A) In addition to the income taxes levied pursuant to Section 1905.01, for a period commencing January 1, 2021 and ending December 31, 2024, there shall be and is hereby levied an annual tax at the uniform rate of one-quarter percent (1/4%) per year on the income of every person residing in or earning or receiving income in the Municipality in order to provide funds necessary to pay costs of improving the City's system of roads, streets and bridges, including related debt charges.
(B) That tax shall be imposed on the municipal taxable income of every person who resides in or who earns or receives income in the Municipality meas...
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