Voters asked to raise income tax to fix Toledo's streets
When Issue 2 goes before voters in March, Toledoans will be asked to raise the income tax by one quarter of a percent, and all in an effort to build and rebuild the city.
If passed, Issue 2 is expected to generate an additional $18.6 million for the city of Toledo, with a portion of the funds going to repairing Toledo roads. The remaining money will be used to fund Toledo's fire and police departments.
"Since I've become mayor, citizens have repeatedly said that they wanted Toledo to spend more resources on residential roads, to keep our neighborhoods safe, and stop transferring CIP dollars," said Toledo Mayor Paula Hicks-Hudson.
So, what will a quarter-percentage point income tax hike mean for Toledo taxpayers? The city says that a person who makes a salary of $35,000 a year, would only pay an additional $7.29 per month. That's equivalent to 2 bags of apples, two loaves of wheat bread, or two bags of onions, according to a flyer being circulated by the city of Toledo.
Monies generated from Issue 2's passage would not be used for any other city endeavor. It will remain as an investment in the city's roads, fire, and police. It would also mandate that balancing Toledo's budget could no longer be done so by taking money out of the city's capital improvement project.
If the issue is approved, money will be put into fixing streets by July 1. Hicks-Hudson says $8.3M will be generated for paving work to be done in 2016.
The city's income tax has not risen by more than three-quarters of a percent since 1982.