A tax reform bill passed in the Ohio statehouse Wednesday has lots of city and town leaders riled up. The bill, HB 5, set out to reform local income taxes by adding some uniform regulations, including changing the system for companies that work in multiple municipalities. Right now, municipal income taxes are a patchwork, with different policies in over 600 municipalities around the state.
The City of Dayton is starting its budget process for next year. Officials will be dipping into savings again to balance the spending plan.
It will cost about $160 million to run Dayton in 2015. That money comes from a variety of sources: income taxes, property taxes and casino revenue. But this year the city will also use $2.5 million in reserves.
Ohio’s looking at an $800 million surplus at the end of its fiscal year, and Republican Governor John Kasich has been touting $400 million in tax cuts in the latest mid-term budget, known as the mid-biennium review.