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Dept. of Law
Title
Amending Sections 1905.01 and 1905.14 of the Toledo Municipal Code to provide, among other matters, for the repeal of the City's temporary three-quarters percent (3/4%) municipal income tax levy effective July 1, 2020, and for the levying of a one and one-quarter percent (11/4%) municipal income tax for a period commencing July 1, 2020 and ending December 31, 2030, to provide revenues for the Capital Improvements Fund and for General Fund purposes; and for the allocation of those funds; and to prohibit the transfer of levy funds from the Capital Improvements Fund to the General Fund; and declaring an emergency.
Body
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That Section 1905.01 of the Toledo Municipal Code, as presently written, to wit:
"1905.01 Declaration of Purposes and Levying of Tax.
(A) There shall be and are hereby levied the following annual taxes on the income of every person residing in or earning or receiving income in the Municipality, as measured by each such person's municipal taxable income, all as hereafter provided in this Chapter:
(1) To provide funds for general municipal operations, maintenance, new equipment and capital improvements of the City, a tax on municipal taxable income at a uniform rate of one percent (1.00%) per year.
(2) To provide funds one-half (1/2) of which shall be allocated to the General Fund for wage and salary increases and services and one-half (1/2) of which shall be allocated to the Capital Improvements Fund, as provided in Ordinance No. 605-66, passed by the Council of the City of Toledo on August 1, 1966, and approved by the City's voters at an election on November 8, 1966, a tax on municipal taxable income at a uniform rate of one-half percent (0.50%) per year.
(3) During the period commencing January 1, 2017 and ending December 31, 2020, a tax on municipal taxable income at a uniform rate of three-q...
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