WADSWORTH: City Council called a special meeting for 1 p.m. Saturday at City Hall to discuss potential losses in revenue if proposed statehouse legislation passes.
State Rep. William Batchelder (R-Medina) is expected to address council to explain House Bill 5, which is designed to create more uniform income tax collection processes statewide.
The legislation is now under discussion in the Ohio General Assembly.
Auditor Catherine Fix said Wadsworth could lose up to $100,000 yearly and a one-time loss of $380,000 if the bill is adopted.
During a meeting last month, Fix presented an analysis of what’s in store for the city if the bill is passes. The law would require Wadsworth to repeal its income tax ordinances and adopt all the new provisions by January 1, 2015.
Penalties and interest rates of the bill would account for the yearly $100,000 losses. The city would also have to pay about $380,000 to CCA, the agency Wadsworth currently uses to collect income taxes, to make the necessary program changes to comply with the law.