If you are living in Hamilton County, you might be seeing an increase in your taxes next year.
That is because Hamilton County Commissioners are leaving all options on the table, as they begin to pay down the debt on the Reds and Bengals stadiums. One of the options, being floated, is borrowing money to pay for stadium maintenance and improvements. The bonds would be paid off by a half-cent sales tax increase after the stadium is paid off in 2032.
Recently Todd Portune was circulating petitions around the city for a ticket tax for those going to the pro teams’s games. He was unable to gather enough signatures to put on the ballot.
Next year the stadium fund faces a 13 million dollar deficit.
If you are living in Cincinnati, you might get a double whammy in taxes next year.
Cincinnati City Council will begin discussing options to reduce a looming budget deficit. It is projected the deficit will total to 34 million dollars next year.
The city’s budget experts will recommend implementing a property tax increase, which will cut the deficit by eight million dollars.
Do have any ideas on how Hamilton County Commissioners and Cincinnati City council should reduce their deficits? Let us know by posting your comments below.
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