COLUMBUS, Ohio -- The city’s budget outlook continued to look bleak.
NBC 4 reported with the BOTTOMLINE.
The city of Columbus is placing an income-tax issue on the special Tuesday, August 4, ballot to make up for budget shortfalls.
If voters were to pass the half-percent tax hike, it should generate $100 million.
It still would not be enough money to put the city in the black, though, city leaders learned Monday night.
City Auditor Hugh Dorrian outlined the latest figures on incoming revenue versus what Columbus is spending, and the outcome didn’t look good.
The latest has the city's budget deficit at $115 million.
Mayor Michael Coleman and other city leaders have been encouraging voters to approve a half-percent income tax. The consequences if the issue weren’t to pass would be the loss of more police officers and firefighters.
While many voters may think approving Issue 1 in August would put the city back in the black, Dorrian said the hike would ease the burden but would not erase the problem.
“The increase of taxes from 2 percent to 2.5 percent is not going to provide any expansion of government,” Dorrian said.
To help offset the other $15 million, Dorrian said the tax hike would begin Thursday, Oct. 1, 2009.
He said that should generate $15 million by the end of 2009.
With a not-growing income tax and no new jobs coming into Columbus, Dorrian said to expect more cuts in city government.
Go to http://ci.columbus.oh.us/news.aspx?id=19328 for more information on the city's proposed income-tax increase.
For additional information, stay with NBC 4 and refresh nbc4i.com -- Where Accuracy Matters.
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