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09/25/1985 Meeting
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09/25/1985 Meeting
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City Council Minutes
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9/25/1985
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<br />- <br /> M E M 0 RAN DUM <br />. <br /> October 3, 1985 <br /> To: City Council <br /> From: Warren G. Wong, Finance Director <br /> Subject: PERSONAL INCOME TAX <br /> The attached ordinance implementing a City Personal Income Tax reflects <br /> changes made by Council at its September 25 meeting and is a revision to <br /> the draft distributed at your September 23 meeting. The changes include: <br /> 1. Rate -- Change rate to 0.4% during period in which debt service for <br /> Airport Terminal Expansion and New or Expanded Library is outstanding <br /> from 0.5%; and, thereafter, rate changes to 0.25% to support Capital <br /> Improvements Program. <br /> 2. Low Income Exclusion/Credits -- Provides for low income exclusion for <br /> taxpayers earning less than $7,500 taxable income and decreasing <br /> credits for taxpayers earning between $7,501 and $10,000. <br /> 3. Dedication of Revenue, Capital Project Definition -- Included acquisition <br /> of motorized vehicles and automated equipment. <br />. 4. Employer Withholding -- Changed required withholding to Eugene based <br /> employers only. <br /> As indicated previously, we recommend that formal action on this ordinance <br /> take place after receipt of an affirmative vote on the ballot measure that <br /> imposes the City Personal Income Tax with the stipulated rate and use <br /> limitations. <br /> In addition to the revised Personal Income Tax ordinance, we are enclosing <br /> a copy of Resolution #3942, which contains the wording of the ballot measure. <br /> cc: M. Gleason <br /> D. Wh it 1 ow <br /> G . Lo n g <br /> Attachments -- 2 <br /> fnwgw749 <br />. <br />
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