Otsego undecided on new income tax rate
Sentinel Tribune Home News News Otsego undecided on new income tax rate Marie Thomas - June 30, 2023 0 TONTOGANY – The income tax request that the Otsego Local Schools Board of Education will ask voters to support this fall will be decided in July. The board was informed at the meeting on Wednesday that two resolutions necessary for an income tax will be available at its subsequent meeting. Board part Imprint Tolles proposed mentioning a goal of need to decide the assortment rate for between $1.95 million and $2 million. Tolles stated that the assumption is that it will be 0.50%. Otsego has considered asking voters in November to support a 0.50 percent or 0.75 percent income tax. The board recently mentioned a goal of need for $2.97 million. Treasurer Steve Carroll stated that the department of taxation estimates that a 0.788% income tax will generate that amount. He stated that, rounded down to 0.75 percent, would amount to 9.1 mills if the district implemented a property tax. Carroll...