Wednesday, February 17, 2010

Doubling Down: 2nd Reading by Willoughby Hills City Council on Proposed Income Tax Change

The City of Willoughby Hills will have a second reading this week (a SPECIAL MEETING) of the income tax "increase" being considered.   Please note that Ordinance 2010-7 uses this precise phrase "... an increase in the rate of municipal income tax...."

To be fair Ordinance 2010-7 also proposes "...a tax credit of one hundred percent (100%) with said credit limit to be equal to one and eighty-fice hundreths percent (1.85%)...." This is an increase in the existing credit level from 1% to 1.85%.  See below the Council meeting agenda for yourself
Willoughby Hills Council Agenda 021810
The problem is that the City of Brooklyn, Ohio may have driven our American Greetings as a direct result of this same type of maneuver.  Brooklyn, Ohio also lost Hugo Boss recently.  The loss of Hugo Boss probably had less to do with the tax increase than it did with cheap labor overseas, but it did not help.

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