Sunday, January 27, 2013
15 of 18 Ohio Patch communities saw 2012 income tax collections surpass 2011 figures
Rising income tax collections and falling unemployment rates suggest local economies are slowly rebounding in Northeast Ohio, at least for some communities. A review of income tax collections for 2012 and 2011 in 18 Northeast Ohio Patch communities shows only one of the municipalities saw a drop in income tax revenue, Brecksville, while just one community saw income tax returns remain flat: Solon. Data was unavailable for Avon Lake. The remaining 15 communities saw an increase in the revenue source they depend on most for police staffing, water service, street repair and other basic government services. An uptick in income tax revenue coincides with steady declines in unemployment rates for the Ohio counties Patch covers: Cuyahoga, Summit…
Friday, January 25, 2013
The year-end amount includes three months of money from the voter-approved income tax increase
Shaker Heights brought in just under $21.1 million from income taxes this year. Finance Director Bob Baker said that's the amount the city anticipated following voter approval of the income tax increase in August. "We had been advised by (the Regional Income Tax Agency) that we would see approximately $400,000 growth in income tax receipts as a result of the election," Baker said, "and that's what we received." The city collected $20.64 million in 2011. Taxpayers first saw the increase reflected in their October paychecks. Baker estimated that a household earning $50,000 would pay $21 more per month than they had prior to the increase. The total annual bill for the person in that example has grown from $875 to $1,127. Baker expects the …
Wednesday, January 23, 2013
Here are the numbers that make up your property tax bill this year
Shaker Heights property taxes will rise by more than 4 mills this year, making the community the second-highest rate in the state, according to data provided by The Plain Dealer and Cleveland.com. Homeowners will pay $3,797 for every $100,000 in home value this year, up from $3,628 last year, according to the database. Overall millage stands at 123.98 this year, compared to 118.48 in 2012. Shaker's rate was second in Ohio behind a location right around the corner — the Shaker Square portion of Cleveland in the Shaker Heights School District. Despite the high ranking, the Shaker school board in October approved a five-year financial forecast that, in part, assumed that voters would approve a 9.9-mill levy in 2014. In 2012, Shaker had the …
AM
10:35 am on Saturday, January 26, 2013
Shaker has always given the lowest credit for taxes paid to other cities. With the 0.5% income tax increase that only 4,200 residents voted for, they have wiped out the credit also. The worst part is, the city did NOT need this increase and they were NOT expecting it to pass. If the 0.5% increase failed, which city leaders expected it would, they were going to counter with a 0.25% increase which … more ›