The Power of Home Rule

By
Real Estate Agent with Realty Exchange

Huntington has received the power to request to levy a one percent "occupation tax" on income.  I've talked to more than one person who has commented it's just another way to drive people out of the city.  Hopefully, I can clarify the situation. Huntington would repeal the much-hated "user fee" and reduce the business and occupation (B&O) tax currently in place and would start the occupation tax so the city doesn't see a loss in revenue.  Huntington officials are trying to emphasize this isn't an additional tax punch but that it's just a fairer way to raise revenue.  They also say the amount taxed would be roughly the same the city gets now.  This occupation tax has to be approved by Huntington's city council before it's implemented.  Mayor Felinton hopes to have it in place by January 2009.  The occupation tax would be offset by getting rid of the current $2 weekly "service fee" the city charges today. The occupation tax is a tax on how much you earn from your profession.  Before the tax can start, the city has research to do.  What percentage should be charged? Will people in certain income ranges be exempt?  How and when will it be collected?  What it all means is the current B&O tax would be reduced, the occupation tax would kick in, it may work, it may not.  We all will have to wait and see.  More to come...

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Rainer
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