Record  Record Cincinnati City Council Items
 Item #: 200205890 Get Documents
 Calendar Date: 10/30/2002
 Sponsors: FINANCE COMMITTEE
 Status/Recommendation: ADOPT
 Description: MOTION, dated 10/28/2002, submitted by Councilmembers Pepper and Crowley, that the Administration take the necessary and appropriate steps to collect the taxes for services to nonresident professional athletes and entertainers performed in Cincinnati, as authorized by state law pursuant to O.R.C. 718.011; and that the Administration explore and present to Council 1) options to systematically collect taxes of individuals who work in the City for more than 12 days in a given year, who are required to pay taxes as authorized by O.R.C. 718.011, but now file and pay the earnings tax on a voluntary basis, and 2) options to more effectively eliminate tax delinquencies; and that the Council adopt a RESOLUTION supporting a roll back of the City portion of the property tax to 5.27 mills (from 5.4 mills), continuing Council's policy of rolling back the property tax; and that the City of Cincinnati provide meaningful property tax relief by undertaking the following steps: 1. For any year when the City of Cincinnati has a favorable revenue budget variance that exceeds $2.5 million, the city will return one-half of the excess revenue to the taxpayers through a property tax credit; 2. The favorable revenue budget variance will be determined by subtracting the total receipts line item in the General Fund Appropriations Ordinance from the actual general fund revenue received for that year; 3. The property tax credit will be targeted to homeowners in the City of Cincinnati, using Hamilton County's stadium tax credit as a model, and using eligibility for the County credit to identify homeowners eligible for the City tax credit; 4. The City property tax credit will not exceed the millage set for operating purposes (currently 5.4 mills), guaranteeing that the property owner does not received a credit greater than the amount of City general fund property taxes due; and that the City of Cincinnati provide meaningful tax relief to working families by creating a partnership with the IRS and other community organizations to expand access to the Earned Income Tax Credit for Cincinnati working families. (STATEMENT ATTACHED) (See documents 200205907, 200205908, 200205909, 200205910 and 200205911)
 Final Disposition: FILED