CHARTER
OF THE
CITY OF SPRINGFIELD, OHIO

ARTICLE V - TAXATION

SECTION 30.   TAXATION OF INCOME.

The city may tax earned income at a rate of two and one-half (2.5) percent; during such time as earned income shall be taxed by the city at an aggregate rate of not less than two and one-half (2.5) percent, not less than twenty (20) percent of any and all revenues derived from a tax on income shall be used only to provide funds for the purpose of financing capital improvements, including debt service charged on notes and bonds issued for capital improvements, of The City of Springfield, Ohio.

Earned income shall mean: (1) Net profits from a business or profession, exclusive of income from intangible personal property, and (2) Payment for work done or services performed, including wages, salaries, commissions and other compensations.

Capital improvements shall mean any property or asset with an estimated useful life of five (5) years or more, including land and interests therein, and reconstructions, enlargements, and extensions thereof having an estimated life of five (5) years or more.
(Amended 11-8-83.)

SECTION 31.   TAX LIMIT.

The total tax rate which may be levied without a vote of the people for the current operating expenses of The City of Springfield upon the tax list and duplicate of property assessed and listed for taxation according to value for the tax year 1966 and each year thereafter shall not exceed 3.27 mills per dollar of assessed valuation, provided that said 3.27 mills shall be reduced in each year by that number of mills, including fractional parts thereof, which are levied in the respective year by the city within the ten mill limitation imposed by Article XII, Section 2, of the Ohio Constitution, for the purpose of paying interest on and principal of obligations issued without a vote of the people.

The limitation of this section of the Charter shall not operate as a limitation upon the power of the commission to levy taxes upon such other subjects and for such other purposes as my be lawful under the Constitution and laws of the State of Ohio, nor shall this section be deemed to be a limitation upon the power of the commission to incur indebtedness for all lawful purposes within applicable constitutional and statutory limitations.

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