Introduction | Economic Development Insight | Business Survey
Economic Development InsightIntroduction | Financial Considerations | History of Economic Development | Master Plan | Commercial Districts | Mixed-Use Development | Market AnalysisFinancial Considerations- Financial Policies- Funding Sources - Annual/Ongoing Expenditures - Income Tax Comparison to Other Communities - Franklin County, Ohio Real Property Tax Rates (pdf file) - Looking to the Future Funding SourcesThe City is committed to preserving and enhancing the excellent quality of life enjoyed by the residents of Upper Arlington. The dilemma in providing and maintaining superior services to the community is securing the necessary funding, since Upper Arlington is largely a residential community. The means to pay for these services are limited, with three main options available: charges for services; property taxes; and income taxes.Income Taxes An income tax rate of two percent is assessed on the earned income of persons working within the City, including businesses that are subject to a net profit income tax and earned income of residents working outside the City. Residents who earn income outside the City are given full credit of up to two percent for taxes paid to other municipalities. Property Taxes Property taxes are assessments on the real property owned in the community. These taxes are used both to fund the general services of the City such as police, fire, and park facilities and to fund capital needs. Of the total amount of property taxes paid per year on a piece of property, only 10% is paid to the City. The remaining 90% supports the Schools, Library, and other Franklin County levies. Charges For Services Charges for services constitute fees based on actual usage and costs associated with specific services. The City uses this option for water, sewer, stormwater, refuse collection, permits/licenses, and to support many of the recreational and leisure programs provided by the Parks & Recreation Department. Typical Annual City Revenues Over the last four years, the City has collected an average of $36.6 million a year in total revenue. Of this, approximately 77% is comprised of a combination of income tax (34%), property tax (21%) and charges for services (22%). The remaining 23% comes from estate tax, the State of Ohio’s Local Government Fund, and miscellaneous other revenues. Estate tax has represented 12% of the average collection over the last four years but is an unreliable current and future source of income and therefore the City dedicates all collections over $2.1 million to one-time capital improvements.
Matt Shad Deputy City Manager-Economic Development City Manager's Office City of Upper Arlington 3600 Tremont Road Upper Arlington, Ohio 43221 Phone: 614-583-5046 www.ua-ohio.net |
Powered by Horizons Companies.