Print Page | Close Window

City Tax Passes What's the New Rev Forecast?

Printed From: Main Street Monroe
Category: Voice Forums
Forum Name: The Voice
Forum Description: Monroe, Ohio news, information and opinions
URL: http://voice.mainstreetmonroe.com/forum_posts.asp?TID=3258
Printed Date: Nov 21 2017 at 7:04am


Topic: City Tax Passes What's the New Rev Forecast?
Posted By: Monroe News
Subject: City Tax Passes What's the New Rev Forecast?
Date Posted: Nov 09 2017 at 10:42am


Income Tax Collections from 2016 report

Revenue from local income tax continued to grow in 2016 due to new development throughout the City. Income Tax revenue increased 12% from 2015 to 2016, resulting in an additional $970,293 collected revenue. Income tax revenue for the City is expected to remain strong in the near future as our industrial areas continue to see steady growth and development. - Source 2016 State of the City Report

Now that the city income tax increase has been passed, how will that impact the future forecast? 


With only 2230 votes out of a population of over 13,473, does anyone really care? We have few voters and fewer candidates.




-------------
Monroe, Ohio Breaking News



Replies:
Posted By: zapp2525
Date Posted: Nov 09 2017 at 12:18pm
The income tax didn't really affect that many people that live in Monroe I bet 

-------------


Posted By: John Beagle
Date Posted: Nov 09 2017 at 12:43pm
Originally posted by zapp2525 zapp2525 wrote:

The income tax didn't really affect that many people that live in Monroe I bet 

That is correct. If you live in Monroe and work outside Monroe you don't have any change on your taxes.

However this is about how much more will the city bring in from the tax increase. 

Note: This is not an official estimate from the city, only for illustration purposes



I asked Assistant City Manager Kacey Waggaman, she had this response:

"Working on it.  [City Manager] Bill [Brock] will be starting budget discussions with Council on Tuesday."

I will post updates on this.


-------------
The privilege of a lifetime is being who you are.
-Joseph Campbell


Posted By: John Beagle
Date Posted: Nov 09 2017 at 2:26pm
This surprises me because if you are going to raise taxes don't you have to have a forecast? Otherwise how do you know the revenues implications of a given tax increase?

-------------
The privilege of a lifetime is being who you are.
-Joseph Campbell


Posted By: ClarkWestern1
Date Posted: Nov 09 2017 at 6:51pm
Took a page from Nancy Pelosi's playbook-"We have to pass it before we know what's in it"


-------------
"Just spittin out words to see where they splatter."


Posted By: John Beagle
Date Posted: Nov 10 2017 at 1:23pm
Well there are sunshine laws but by the time I get anything started the city will have their meeting and we will have our revised projections.

I think the city should have provided new projections prior to the vote. But that's just me, I'm funny like that... Wanting to see how much money the new tax brings in before voting is just plain silly.

Wink


-------------
The privilege of a lifetime is being who you are.
-Joseph Campbell



Print Page | Close Window