Powell Voters Approve Income Tax Restructuring
The restructuring unanimously approved by Powell City Council will begin a new chapter for the city
(POWELL, Ohio) – May 4, 2021 – The City of Powell community turned out on May 4 to make their voices heard and voted to approve the income tax restructuring proposal, also approved unanimously by Powell City Council. Sixty-six percent of Powell voters approved implementation of the income tax restructuring, which goes into effect on January 1, 2022.
The proposal on the ballot was developed after City Council received feedback from the community, following the unsuccessful 2018 proposal. The city has one of the lowest income tax rates in Ohio. The new tax restructuring raises the credit for taxes paid to another municipality from those that live in Powell but work in another city to 100 percent. The restructuring will additionally increase the effective income tax rate for individuals working in Powell from the current rate of 0.75 percent to a more competitive rate of 2 percent.
“The next chapter for Powell begins today,” said Mayor Frank Bertone. “Tonight, Powell citizens showed up and agreed that our city deserves to keep improving to provide the high quality of life for everyone that lives here.”
“We’re thrilled that our community made their voices heard and agreed that Powell is worth investing in,” said City Manager Andrew White. “With the tax restructuring plan, we can put this money back into public safety, our infrastructure and to support our local businesses. The additional revenue will help keep the small town charm that our citizens have come to love about Powell.”
The proposal is estimated to raise an additional $3.4 million. The additional revenue will support the city’s top-rated safety services and amenities and provide improvements to businesses in Powell by creating an annual grant program. Further, it will also allow the Keep Powell Moving plan to continue its infrastructure improvements such as developing roadway connections and improving the bike paths that run throughout the city.
“People who live in Powell didn’t move here because we had one of the lowest income tax rates in the state. We moved here because of how safe it is and because this is a thriving community,” Bertone said. “I’m thrilled that our citizens turned out and realized that our community’s future is worth the investment.”