Sat., 8:49 pm: Warren city income tax falls short
WARREN City income tax revenues fell short of what was budgeted in each of the last two of years, by a total of nearly $1 million.
Tax revenues were $841,266.45 short of the budgeted amount of $17.84 million in 2013, and were $31,482.50 short of the budgeted amount of the $17.68 million at the end of 2012.
The actual amount collected in 2013 almost $16.95 million was the lowest total income amount collected since 2010, when the city collected $15.76 million. It was the second-lowest amount collected during a six-year span starting in 2008.
“Withholding declined in 2013 and in 2012,” City Treasurer John Homlitas said. “There were companies that closed and companies that were purchased that are not operating at the same levels.”
Some of the newer jobs pay less, and some people moved out of the city, he said. Warren city’s population is about 41,358 people, according to the July 2011 census data. It had a population of about 46,808, in the the 2000 U.S. Census.
“The city has an older population, so we have people who have retired and their incomes are significantly lower than what they were earning when they were working.”
In the six-year period examined, the only other year the city fell short tax revenues projected was 2009, when it collected $635,280 less than the $16.88 million budgeted.
Read more in the Sunday Tribune Chronicle.