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The Double Whammy Facing Some Toledo Taxpayers

Cashed Out
Robert S. Donovan

 What if?

Always a big question facing the future of families, even the health of entire households.

But never has that question affected more the pocketbooks of thousands of Toledoans who work in the suburbs.

The end of an income tax credit (if it passes Toledo City Council by the end of March) could have a profound impact on the take-home pay of 19,000-plus residents.

Add to that scenario the prospect of a three-quarter percent income tax increase on the May 4th ballot for Toledo Public Schools—and the issue becomes even larger.

Using the numbers city councilman George Sarantou unveiled at a late February press conference, a Toledoan who works in Oregon with a $50,000 salary would pay an additional $1,125 if Mayor Mike Bell’s tax reciprocity proposal is approved.

If voters also give the nod to the TPS tax proposal, that extra income tax burden for the same person increases to $1,500.

The monthly trash fee increase—add up to another $180 per year to that total.

Now ask yourself: what is the ROI (return on investment) for that sacrifice? The same services, the same city, the status quo.

For many, that’s a monthly mortgage payment (or two). Braces for a kid. Half a year’s car payments for a small sedan.

According to Sarantou’s numbers, the financial fallout is a bit less for a Toledoan making the same $50,000 salary in Perrysburg-- $750. Add a couple hundred bucks to that figure between the trash fee and the TPS income tax increases…and it’s still around $1,000.

Would you willingly make that same sacrifice? Look at your own financial situation a moment before answering that question. What if?

These are the scenarios facing some of your neighbors, friends, and relatives over the next few weeks.

But you hold part of their financial fate in the vote you’ll cast as a Toledoan in May. The rest of that fate lies with the twelve members of city council.

The facts in total add a whole new perspective to the situation.

Just askin’. What if?

 

Photo by Robert S. Donovan