Bring back the Germantown City Income Tax Credit!
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On November 6, 2017 the Germantown City Council voted unanimously to eliminate the City Income Tax Credit as of January 1, 2018. This credit previously allowed residents of Germantown who were employed outside of city limits (which is the high majority) to deduct up to 75% of taxes paid to other municipalities from their Germantown Income Tax bills. (the maximum deduction allowed was 75% of 1.25% of gross income).
What this now means is that you will pay the full amount of local income taxes for the city you work in AND in Germantown. Your Germantown income tax bill will be 4 times higher for 2018. The reasoning for this? As stated in the letter mailed to residents dated December 12, 2017 "The option to eliminate the income tax credit was chosen due to citizen reluctance to support a tax increase."
Next year you will be paying the City of Germantown $125 for every $10,000 of gross income you earn. Previously you would have paid them $31.25 per $10,000 earned.
Earn $50,000 and work outside of Germantown? This year you would have paid Germantown a total of $156.25. In 2018 you'll be paying them $625.
Earn $75,000? Well your $234 tax bill just turned into $938.
Your total income taxes are now higher in Germantown than in Oakwood, Centerville, Dayton, Springboro, Vandalia, Middletown, etc. Germantown is one of the very few places that decided to not offer any form of tax credit (Most places even offer a full credit!) This is a great place to live, but it doesn't need to become unaffordable.
Please sign this petition asking for the Germantown City Income Tax Credit to be reinstated! Together we can dam this flood of unnecessary tax increases!
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