Sat., 10:05 pm: Municipalities struggle, juggle income tax booms and busts
While some communities spent the last five years struggling to collect enough income taxes to cover their budgets, others have an abundance.
Girard and Lordstown, for example, have been using a boost in their tax collections to recover from years of debt and long-neglected capital improvements.
Girard’s income tax revenue would have seen a decline in the last several years without the hundreds of thousands of dollars that came with the multi-million dollar expansion of the Vallourec Star pipe mill.
Mayor James Melfi said he tracks his city’s income tax collections with and without the dollars associated with the mill.
In the last three years, tax dollars other than from Vallourec Star construction declined from $3.53 million in 2011 to $3.24 million in 2013. The city collected $2.92 million in 2010, and $2.97 million in 2009.
But the amount collected from the expansion increased every year, beginning with $11,300 in 2010 to $1.03 million in tax income from construction in 2013.
The city has used some of the Vallourec Star construction money to pay down debts and purchase equipment.
Read more about Trumbull County municipalities and their income tax situations in the Sunday Tribune Chronicle.