2018-12-05 / News

Income Tax Under Prediction

Donna Dettling, Archbold village administrator, told council the village municipal income tax is not going to bring in as much revenue as originally anticipated.

Dettling told council during its Monday, Dec. 3 meeting, village officials predict the tax will bring in about $4.625 million for the year, about 1.5% over the total 2017 collection. It was originally anticipated tax revenue would grow 3%.

She said estimates for 2019 revenue are more conservative.

For November 2018, the 1.5% income tax on payroll and corporate profits generated $324,433.90, which is $3,423.88 more than the collection in November 2017.

So far, between Jan. 1-Nov. 30, 2018, total tax collected is $4,330,195.63, $98,092.21 higher than 2017.

The record year for the Archbold income tax was 2016, when the income tax generated more than $4.9 million.

However, that year, the state of Ohio changed how taxes are reported, resulting in an artificially large number.

The second-highest year was 2006, at $4.88 million.

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