Next week's ballot proposal language

Here is how the wording of the City Income Tax proposal will read. You then need to decide if you want to vote yes FOR the tax or no AGAINST the tax.

•Imposes an annual rate of income tax of 1 percent annually on corporations and residents, and 0.5 percent annually on nonresidents who are employed in the city.
•Allows a $1,000 exemption for each individual and dependent with additional cumulative exemptions for individuals over age 65 and for individuals with qualifying disabilities.
•Exempts income from pensions, Social Security, annuities, disability payments and other qualifying sources of income
•Becomes effective July 1, 2008, and expires July 1, 2014.

The vote is next Tuesday November 6th