Low estimates made for city’s income taxes
Two University of Toledo professors with a track record of conservative financial predictions offered their estimates for the city’s total 2013 income taxes — figures that, even under the best conditions, fall short of what the Bell administration expects for the year. David Black and Oleg Smirnov, who have been hired for several years by Toledo City Council to make revenue forecasts, gave council two income tax collection predictions in a report dated Monday. The first projected figure was at $160.81 million; the second a little less rosy at $159.2 million.