BEAVERCREEK — The Beavercreek City Council has unanimously approved placing a 1% income tax on the Nov. 3 ballot.
the council voted Monday night on the measure, which City Manager Pete Landrum said was presented to the council by a resident group in February.
If approved by voters, the income tax would not become effective until Jan. 1, 2022, Landrum said in a prepared statement released Tuesday.
Property taxes would also be immediately reduced by allowing a voted 3.4 mills street levy expire on Dec. 31, 2021. That would mean a reduction of about $101.46 per $100k of home value per year, according to the city.
If approved, the tax will reduce city property taxes for all city property owners, provides a 100% credit to city residents for city taxes that are paid (up to 1%) to other cities, exempts retirement, Social Security and active military pay and captures income taxes from everyone working within city limits.
According to Landrum’s office, an estimated 75% of the city workforce is non-resident. Those dollars from non-residents would be captures by the city to help fund city services and immediately reduce current city property taxes and will help to avoid the need for future levies.
Beavercreek is one of four cities in Ohio without an income tax, according to Landrum’s office.
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