A couple of years ago
the Wilmington city council voted against a resolution that asked the
state legislature to forgo action to repeal Ohio's estate/inheritance
tax. The resolution had been circulated by other cash strapped cities
and counties in Ohio.
In the end the
legislature repealed the tax effective for deaths occurring after
2012. It's worth noting that the tax had not been applied to
estates under $340,000 or on any amount that was bequeathed to a
surviving spouse.
As a result of the
repeal, the county and city, that received a total of over $820,000
last year from the tax, will have to either cut public services or
ask for tax increases on the living population.
Odds and ends:
In spite of the uptick
in job creation touted by the Mayor of Wilmington city income tax
revenue reached a five year low for 2013. Receipts were $70,000 lower
than for 2012.
Wilmington city school'
income tax also dipped $90,000 below the 2013 receipts.
Paul Hunter
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