Proponents of a proposed 1.5 percent earned income tax in Beavercreek say the city has changed throughout the decades and needs the tax to repair its roads and bridges, offset cuts in state money and refurbish its parks and city buildings.
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Proposed Income Tax details
Rate: 1.5 percent on earned income
Term: 7 years
Revenue: $108 million (est.) over term
What is taxed: All earned income
What is not taxed: Pensions, Social Security, investments and most other retirement income. Active duty military pay, including National Guard and Reserves
Who is taxed: People who work in Beavercreek and city residents who work outside the city in localities that do not have an income tax. Those paying an income tax in another locality would receive 100 percent credit on tax paid.
Property tax rollbacks: 2014 — 1.0 mill street levy; 2015 —3.7 mill police levy; 2017 — 2.6 mill street levy
Potential savings from rollbacks: $223.29 by 2017 for a house valued at $100,000
Potential cost of income tax: $900 for a person earning $60,000. For individual comparisons go to http://ci.beavercreek.oh.us/municipal-income-tax/property-tax-savings-and-income-tax-calculator
Potential capital projects funded from income tax: go to ci.beavercreek.oh.us/wp-content/uploads/2013/02/income-tax-capital-program-summary-040113.pdf
Source: City of Beavercreek
For more information from Taxbusters, go to taxbusters.wordpress.com.
For more detailed information from the city, go to http://ci.beavercreek.oh.us and click on “Municipal Income Tax”, which includes a tax calculator.
The League of Women Voters is sponsoring a May 2 forum, including a question and answer session, on the issue at 7 p.m. at the Beavercreek Church of the Nazarene, 1850 N. Fairfield Rd. Both sides of the issue will be present.