Monday, December 05, 2011

Toledo's 3/4% payroll income tax to be on March ballot

Toledo City Council today decided to place the renewal of the 3/4% payroll income tax on the ballot for the March 2012 primary election. It was a unanimous vote.

As I predicted, they decided to keep the current allocation of the revenue from the tax the same as it today, including the ability of council to divert the allocation to the Capital Improvement Plan funds (CIP) to the general fund as needed.

The allocation on the ballot for another renewal will be:

* 1/3 to police and fire;
* 1/3 to the general fund; and
* 1/3 to the Capital Improvements Plan (CIP) fund with the ability to transfer any of this amount, with approval of council, to the general fund based upon financial need.

I'll have Sherry's notes from today's meeting posted tomorrow morning.

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