City adopts no-tax-increase budget
City Council on Wednes-day approved a 2018 budget that calls for no tax increases — but that calls for elimination of general-purpose earned in-come tax on workers who live outside the city, as a requirement of the city’s leaving the state’s Act 47 distressed municipalities program.
The budget predicts expenses of $31.5 million, with revenues exceeding that by $680,000.
That predicted surplus would bring the city’s reserve — the unassigned fund balance — to $10.7 million by the end of next year.
Property tax, all in the form of a general purpose levy, will remain at 5.129 mills.
Earned income tax will remain at 0.7 percent for general purposes and 0.4 percent on both city and non-city resident workers to support the city’s pension plans.