News Flash

Some key points of the income tax ordinance being placed on the ballot:

• If approved, the income tax will be effective January 1, 2023
• If approved, the income tax will replace five existing property tax levies totaling 8.1 voted mills; the five existing property tax levies will be terminated for the tax year 2022 (approximately $134 per $100,000 of home value per year)
• Funding from the income tax will be used to replace the revenue generated by the terminated levies
• Funding from the income tax will be used to: 
  • provide additional funds for general municipal operations, including public safety and public services
  • hire five additional police officers and five public service workers
  • complete capital and infrastructure improvements including streets, curbs, stormwater, and public facilities
  • provide and maintain municipal services, facilities and equipment
• Persons working in the City of Beavercreek, including non-residents, will be subject to the income tax; businesses earning income in the City are also subject to the income tax 
• A 100 percent tax credit of up to one percent may be claimed by Beavercreek residents who work in and pay taxes to another municipality (based on the same income); Per the tax code, the income tax credit cannot be changed without first obtaining the approval of the change by the majority of the electors of the city at a general election
•  Income includes (but is not limited to): 
  • Residents wages, salaries, income and commissions 
  • Non-residents wages, salaries and commissions
  • Lottery, sweepstakes, gambling and sports winnings
• Some types of income are exempt from taxation; a complete list of exempted income can be found at Section 39.03 of the Beavercreek Income Tax Code; examples of exempt income include, but are not limited to, the following: 
  • Military pay, Reserve and National Guard pay 
  • Intangible income: interest, capital gains, dividends 
  • Social Security benefits, unemployment compensation pensions, retirement benefit payments, annuities, disability payments
  • Alimony and Child Support

Click here for additional information.