AKRON - Akron Mayor Dan Horrigan announced a proposal for a .25 percent tax increase Thursday.
The .25 percent earned income tax increase would fund capital and operating needs for public service. The additional tax would apply to income earned at a job. It will not affect retirement and pension, social security or government benefits, according to the city.
The increase would raise Akron's income tax to 2.5 percent.
If passed by city council, the proposal will be on the November ballot. The issue will be introduced to council June 26.
According to the city, the funds would be divided among police, fire and EMS and streets. For example, Akron Police Chief James Nice said the income tax hike would support new vehicles and data storage for body cameras. Akron Fire Chief Clarence Tucker discussed the deteriorating Akron Fire Station No. 2 on E. Exchange Street and fire trucks that are in need of repair at a news conference Thursday.
According to the mayor's office, the city has lost $15 million per year in fair tax-sharing from the state and has lost an estimated $80 million in unrealized income tax revenue since 2008.
The city says a lack of replacement funding could lead to more difficult budget decisions and an impact on city services.
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