Toledo sees tax revenue increase
Fri, 21 Sep 2012 13:19:28 GMT —
Tax revenues for the city of Toledo are up from last year, a sign the local economy is improving.
New figures released Thursday show Toledo's tax revenue has improved from 2011 and is below the spending limit for 2012.
According to the Toledo Blade, income tax collections through Aug. 31 were 2.44 percent greater than the first eight months of last year.
From the 2.25 percent payroll tax, the city has collected a little more than $6 million, the Blade reports.
The numbers are up nearly $145,000 dollars from the same time last year. Spending from the city's general is just under budget by about 0.2 percent, which pays the salaries of police officers, fire fighters and recreation.
Meanwhile, recreation and parks and forestry are over budget, while police and fire overtime are below budget.
The city's economic development department was also under budget.