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Cleveland voters will decide more than who will be the next president in November; they’ll be voting on whether to raise the city’s income tax rate for the first time in 35 years from 2 percent to 2.5 percent.
For the better part of the past five years, the city has been balancing its budget through creative financing, cutting corners where they could during the course of a given year to guarantee they end the year in the black.
It was a task made much more difficult in 2011 when in an effort to balance it’s own budget the state cut the amount of money it was sending to local governments. In Cleveland’s case, it was a figure Mayor Frank Jackson put at the time at $35.7 million.
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source: Newsnet5.com
