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Finance Director Andre Dorio: Wooster—ity income-tax receipts rose 7.7% in Q1 as building permit valuations surged
Summary
At a joint finance presentation April 20, Finance Director Andre Dorio told the finance committee Wooster—ity—irst-quarter income-tax receipts climbed 7.7% year-over-year and building permit valuations jumped to $32.7 million, driven in part by two large restaurant permits.
At the Wooster finance committee meeting on April 20, Finance Director Andre Dorio reported a stronger-than-expected first quarter for the city—inances. Dorio said total income-tax receipts, net of refunds, rose about 7.7% (roughly $465,000) compared with the same quarter last year, a gain he said exceeded March—alendar inflation (3.3%) and therefore represents real economic growth.
Dorio gave a breakdown of revenue components: withholding was up roughly 5% (about $250,000) and business net profits jumped 42.7% (about $242,000). He noted individual-income figures were lower year-over-year largely because refunds were higher this period than last (about $63,000 vs. roughly $24,000 the prior year).
The…
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