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Sylvania Income tax collection up $295,000 from last year

Sylvania-7-22

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The city of Sylvania had a 6.2 percent increase in income tax collections, according to Toby Schroyer, finance director.

From Jan. 1 to June 30 it collected $5,052,146, a $295,000 increase from last year’s collection. In the first six months of 2012 the city gained $4,757,128 in income tax revenue.

The tax collection figures incorporated the deductions given as refunds to taxpayers, either individuals or businesses, entitled to them, Mr. Schroyer said.

The surplus cash will be divided among three accounts, the income tax fund, general fund, and capital improvements fund.

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