Income taxes, the largest source of general fund revenue, is budgeted to generate about $190.2 million which is nearly $4.3 million more than what is expected for the current year. Separately, about $18.8 million is budgeted for residential roads via the 0.25 percent income tax designated for this purpose.
With his budget plan, the Mayor also announced plans for reorganization of City departments. This includes a new Department of Transportation, a new Department of Building & Code Compliance, and a new office of Safety Director that will oversee safety services including police and fire.
The proposal is expected to be referred to committee for further review. Toledo law requires that a budget be adopted annually by March 31. City Council meetings can be attended in person in Council Chambers at One Government Center in downtown Toledo, and can be viewed via video.
The Toledo Regional Chamber of Commerce will continue to review the City’s 2022 budget proposal and potential implications for businesses as more detailed information is available.
As Manager for Local Government Advocacy, Tim Schneider advocates for local policies and laws that safeguard and foster a pro-business environment in the Toledo Region. Tim has more than 10 years of legislative and public policy experience with the local, state and federal levels of government.