Ordinance 2002-05
AN ORDINANCE AMENDING VILLAGE OF FARMERSVILLE ORDINANCE NUMBER 2001-11 CHANGING THE VILLAGE OF FARMERSVILLE'S ONE PERCENT (1%) CREDIT FOR TAXES PAID TO OTHER MUNICIPALITIES TO ONE HALF PERCENT (½%) TAX CREDIT.
WHEREAS, due to a shortage of funds available to cover the expenses for the Village of Farmersville, Council deems it necessary to amend Ordinance Number 2001-11 which states that the Village of Farmersville Residents shall receive a one percent credit for municipal income taxes paid to other municipalities; and
WHEREAS, the Village of Farmersville Council deems it necessary to reduce the residents' one percent tax credit for municipal income taxes paid to other municipalities to One Half Percent (½%).
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE VILLAGE OF FARMERSVILLE, OHIO THAT:
SECTION 1:
The section of Ordinance Number 2001-11 which pertains to Village of Farmersville Residents' tax credit shall be amended to reflect that the Village of Farmersville Residents shall receive a one half percent (½%) credit for income taxes paid to other municipalities instead of the original one percent tax credit.
SECTION 2:
This Ordinance shall take full force and effect October 1, 2002.
Editor's Note: The tax credit change is effective with income earned after January 1, 2003, for the tax year 2003.
