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Twinsburg board outlines proposed 1.25% earned-income tax and recent cost-saving measures
Summary
Board members reviewed a proposed 1.25% resident earned-income tax estimated to raise about $12 million for operations, and district staff described cost-saving steps including 36 FTE reductions and $1.7M in annual wage savings plus grant and investment revenues.
Twinsburg City School officials detailed a proposed 1.25% resident earned-income tax on the May ballot and reviewed recent fiscal measures the district has taken to reduce costs and shore up operating revenue.
The board said the proposed levy is a resident earned-income tax that would not apply to non-earned income such as pensions or Social Security and is not a municipal income tax. "It is a 1.25 earned income tax to generate approximately $12 million for the district," the board stated during its presentation.
Treasury and finance updates: Julia told the board the district has pursued multiple levers to…
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