TOLEDO, OH (Toledo News Now) – This year continues to be a year of growth for the City of Toledo as a new report shows city tax collections continue to rise.
Through November, the city collected $130.4 million in taxes, $4 million more than 2011 – a 3.1 percent increase. That includes taxes on business net profits totaling $16.7 million, 17 percent higher than 2011.
Toledo Finance Director Patrick McLean said it's a sign the local economy is improving, and he expects the city to meet the 2012 tax revenue projection of $158.4 million.
"Bottom line is we're up more than 3 percent," McLean said. "[That's] a little less than we were a month ago, but still a healthy, solid growth figure."
McLean said the city expenses are staying within the pace of revenues, and he anticipates the city finishing the year with a modest surplus.
Copyright 2012 Toledo News Now. All rights reserved.
730 North Summit Street