Finance Department

 

The City of Powell is proud of its strong financial operations and fiscal responsibility. Our Finance Department has been the repeat recipient of awards that recognize our commitment to quality budget documents, best practices on budgeting, and accurate financial reporting. The awards include:

-Standard & Poor’s ‘AAA’ with a stable outlook bond rating (since 2013)

-The Distinguished Budget Presentation Award by the Government Finance Officers Association of the United States and Canada (since 2008).

-The Certificate of Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (since 2006).

-The Ohio Auditor of State’s “Making Your Tax Dollars Count” Award (for multiple years).

-Participates in Ohio Checkbook

What We Do

The Finance Department supports its residents and area businesses by collecting, depositing and investing all city funds.

It is also responsible for the following:

-accounting and finance reporting of all city operations

-human resources, risk management and safety duties

-levying property and income tax within its boundaries

Property Tax

Information about Powell’s real estate valuation, tax rates and special assessments can be found on the Delaware County Auditor’s website.

The Delaware County Auditor collects property taxes and other real estate data for all government entities in our county, and distributes them on a semi-annual basis.

Business Tax

The City of Powell does not require a special business registration, but the State of Ohio does require a Vendor’s License and Business Registration in order to conduct sales.

Please refer to The Ohio Department of Taxation for more information.

Municipal Income Tax

The City of Powell has a three-quarter percent (.75%) municipal income tax for anyone who earns income in the City of Powell, and for Powell residents who earn income outside of the city.

Residents who earn income elsewhere and have been taxed locally by another city can receive a credit of one-quarter percent (.25%), with a net tax of one-half percent (.50%) due to Powell.

Other important information about Municipal Income Tax:

Municipal Income Tax Changes (effective January 1, 2016)

TaxPage

The City of Powell amended its income tax code to include all the changes made by the Ohio Legislation through House Bill 5. The 130th General Assembly passed and Governor John Kasich signed into law Amended Substituted House Bill 5 in December, 2014 which mandates municipal income tax ordinances be amended in accordance with the provisions and limitations specified in Chapter 718 of the Ohio Revised Code. These changes take effect Jan. 1, 2016.

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Budgeting

The City of Powell’s annual budget serves as the foundation for the City’s financial planning and control.

A city ordinance allows the City Council to determine the appropriations, or amounts of money, allocated to each city department.

The City Council may pass supplemental appropriations at any time by ordinance.

2017 Budget

2016 Budget

2015 Budget

2015 Budget Presentation

2014 Budget

2013 Budget

FAQ

For a list of frequently asked questions and answers about City finances and taxes, visit here.

Popular Annual Financial Report (PAFR)

This report provides transparency of where City revenues come from and where those dollars are going for residents that may not have finance or accounting backgrounds. Additionally, we have highlighted some of the economic development activity and capital improvements that we saw during the last year and what to look forward to this year.

2016 PAFR

Comprehensive Annual Financial Report (CAFR)

The City of Powell prepares a Comprehensive Annual Financial Report (CAFR) that is audited each year.

The CAFR details important financial information such as:

-Financial statements for the city

-Financial note disclosures

-Statistical information

2016 CAFR

2015 CAFR

2014 CAFR

2013 CAFR

Community Development Charges

A Community Development Charge is a charge that covers fees associated with the development, acquisition, construction, operation and maintenance of a certain development.

There are two developments in Powell that pay a Community Development Charge: Murphy Park and Golf Village.

The Delaware County Commissioners, at the request of Triangle Properties, the developer, authorized the establishment of two financing authorities, one for Murphy Park and one for Golf Village. The financing authorities are a separate taxing district for the purpose of financing improvements within a specific area.

Here is a breakdown of improvements for each financing authority:

The Liberty Community Infrastructure Financing Authority – The Authority For Golf Village

Primary improvements financed:

  • The extension of Sawmill Parkway from Seldom Seen Road to Home Road
  • Water improvements
  • Sewer improvements
  • Total cost: approximately $22 million

The Powell Community Infrastructure Financing Authority – The Authority for Murphy Park

Primary improvements financed:

  • The extension of Murphy Parkway south of Olentangy Street
  • Water improvements
  • Sewer improvements
  • Total cost: approximately $3 million

Financing Authority Board

Both financing authorities have a seven-member board. The residents of the subdivision elect board representatives.

The financing authority boards are responsible for:

  • Meeting annually to set the Community Development Charge, or millage, necessary to make the debt payment. The maximum amount is 10.25 mills per year, which will continue to be collected until enough development occurs that the millage can be reduced.
  • Either reducing the millage or continuing to collect the maximum millage, and using the funds for other improvements or to pay off the debt early.

Other important information about the Community Development Charges:

  • The millage will continue to be collected as long as additional funds are needed to pay any outstanding debt.
  • Outstanding debt is currently anticipated to be 20 years, but could be 30 years for Golf Village residents.
  • The calculation of the 10.25 mills is $10.25 per $1,000 of assessed valuation.
  • Assessed valuation is 35 percent of market value.
  • The Community Development Charge is NOT subject to rollback/homestead reduction factors.
  • The Delaware County Auditor collects the Community Development Charge along with the collection of semi-annual property taxes. The specific charge appears under “Special Assessments” on the bill or may be located on the Delaware County Auditor’s website.

If you have questions, please contact Debra Miller at dmiller@cityofpowell.us.

Regional Income Tax Agency (RITA) Tax Forms

Visit here for a list of tax forms from the Regional Income Tax Agency.