Archbold, OH

Income Tax Down More Than 6%



Archbold Village Council learned revenue from the village 1.5% income tax is down by 6.85% during its Tuesday, Sept. 7 meeting.

In the first eight months of 2010, the income tax has generated $2,573,471.10 in gross revenue. That’s $189,212.41, or 6.85%, less than the same time period in 2009.

For August 2010, collections were $462,838.03, down $31,219.76, or about 6.32%, from the total collection in August 2009 of $494,057.79.

Village officials budgeted total income tax revenue to be 10% behind 2009, so revenue is running about 3% ahead of what was anticipated.

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