The coming tax reckoning

Olmsted Falls voters will decide on Issue 71 this November. This ballot measure proposes increasing the municipal income tax from 1.5% to 2% and eliminating the tax credit for income taxes paid to other municipalities. Additionally, the proposal involves phasing out several existing property tax levies. This local tax adjustment is highlighted alongside a broader discussion regarding the coming tax reckoning as featured in a recent issue of The Economist.