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10/09/1985 Meeting
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10/09/1985 Meeting
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City Council Minutes
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10/9/1985
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<br /> , <br /> M E M 0 RAN DUM - <br /> e <br /> October 10, 1985 <br /> To: City Council <br /> From: warr,;:/' &! ~, Fi nance Di rector <br /> Subject: REVISED PERSONAL INCOME TAX ORDINANCE <br /> The attached ordinance implementing a City Personal Income Tax reflects <br /> changes made by Council at its September 25 meeting and technical <br /> language changes. 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 /> J'o- and, thereafter, rate changes to 0.25% to support Capital Improvements <br /> Program. (3.606) <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 ~arning between $7,501 and $10,000. Cl arifi ed <br /> application of exclusion/credits to non-residents. (3.608) <br /> 3. Dedication of Revenue, Capital Project Definition -- Included acquisition <br /> e of motorized vehicles and automated equipment. (3.612) <br /> 4. Employer Withholding -- Changed required withholding to Eugene based <br /> employers only. (3.618) <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. Alternatively, you may take action prior to the election with <br /> a provision making the implementation of the ordinance subject to affirmative <br /> approval of Ballot Measure #51 by the voters. <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 neasure. <br /> cc: M. Gleason <br /> D. Whitlow <br /> G. Long <br /> Attachments -- 2 <br /> fnwgw763 <br /> e <br />
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