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Beavercreek finance staff outlines income‑tax and property‑tax scenarios, warns of transition deficits
Summary
City finance staff presented two revenue scenarios: a 50% property‑tax reduction replaced by a 1% income tax, and full property‑tax elimination replaced by a 2.9% income tax. Analysts projected short‑term deficits during the transition years and stressed collection assumptions and risks.
David Graham presented an extensive review of Beavercreek's revenue picture and two scenarios to diversify revenue if state law reduces or eliminates property taxes.
Graham said the city currently gets roughly 64% of its operating revenue from property taxes and noted recent state legislative changes that cap inside‑millage growth and give county budget commissions new authority to reduce rates. Citing a Miami University estimate, he said a 1% income tax could be expected to generate about $19.6 million annually in a steady state, with collection…
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