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Feb
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2024

Ordinance 2023-10

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— Public Notice —

REPEALING AND REPLACING SECTION 881.06 “CREDIT FOR TAX PAID TO OTHER MUNICIPALITIES” OF THE CODIFIED ORDINANCES OF THE VILLAGE OF YELLOW SPRINGS, OHIO TO CHANGE THE AMOUNT OF CREDIT GRANTED BY THE VILLAGE OF YELLOW SPRINGS FOR INCOME TAX PAID TO OTHER MUNICIPALITIES

ORDINANCE 2023-10, VILLAGE OF YELLOW SPRINGS, OHIO

Interested persons will take note that the Village Council of Yellow Springs on Monday, March 6, 2023, gave first reading to an ordinance, text to follow.

Council will give a second reading and pass into law during a public hearing on Monday, March 20, 2023, in the Bryan Community Center, 100 Dayton St.

WHEREAS, at the recommendation of the Village Manager and the Finance Director, Section 881.06 of the Codified Ordinances of the Village of Yellow Springs shall be amended to reduce the amount of credit given to taxpayers for income tax paid to other municipalities,

NOW, THEREFORE, COUNCIL FOR THE VILLAGE OF YELLOW SPRINGS, OHIO HEREBY ORDAINS THAT:

Section 1. Section 881.06 entitled “Credit for Tax Paid to Other Municipalities” of the Codified Ordinances of the Village of Yellow Springs, Ohio be repealed.

Section 2. A new Section 881.06 entitled “Credit for Tax Paid to Other Municipalities” of the Codified Ordinances of the Village of Yellow Springs, Ohio be enacted to read as follows with new language underlined and bolded and deleted language in strikethrough as show in the attached Exhibit A.*

Brian Housh, President of Council

*EXHIBIT A to ORDINANCE 2023-10

881.06 CREDIT FOR TAX PAID TO OTHER MUNICIPALITIES.

(a) Every individual taxpayer domiciled in the Village who is required to and does pay, or has acknowledged liability for, a municipal tax to another municipality on or measured by the same income, qualifying wages, commissions, net profits or other compensation taxable under this chapter may claim a nonrefundable credit against the tax imposed by this chapter upon satisfactory evidence of the tax paid to the other municipality. Subject to division (c) of this section, the credit shall not exceed 50% of the amount obtained by multiplying the income, qualifying wages, commissions, net profits of other compensation subject to tax in the other municipality by the LOWER of the tax rate in such other municipality OR the tax rate imposed the tax due the Village under this chapter.

(b) The Village shall grant a credit against its tax on income to a resident of the Village who works in a joint economic development zone created under Ohio R.C. 715.691 or a joint economic development district created under Ohio R.C. 715.70, 715.71, or 715.72 to the same extent that it grants a credit against its tax on income to its residents who are employed in another municipal corporation.

(c) If the amount of tax withheld or paid to the other municipality is less than the amount of tax required to be withheld or paid to the other municipality, then for purposes of division (a) of this section, the income, qualifying wages, commissions, net profits or other compensation subject to tax in the other municipality shall be limited to the amount computed by dividing the tax withheld or paid to the other municipality by the tax rate for that municipality.

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