Youngstown income tax collections down $2 million

Youngstown taxes down

YOUNGSTOWN, Ohio (WKBN) — Income tax collections in Youngstown are about $2 million below what was projected.

According to recently released numbers, the city collected $42 million in taxes last year, but it had projected collecting $44 million. However, Finance director David Bozanich said that while the receipts are lower than projections, they knowingly estimated high.

He added that at the same time, the city reduced expenses by not hiring people and offering an employee buyout program.

“We still ended the year with a nice balance. Our numbers are pretty good on a go-forward basis. We’re not projecting any layoffs in the system for 2014, so we’re pretty happy with the numbers in general.

Bozanich added that the mayor’s priorities are additional funding for police, neighborhoods and economic development. He said the city will try to keep up its financial contributions toward demolitions and infrastructure repairs.

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