Writer says proposed Lakewood income tax will be costly
Even though the Lakewood School Board would like for you to believe that its just a 1% income tax increase, it is actually a lot more than that. For example, let's assume you are a current home owner in the area that owns a $100,000 property with an average yearly property tax of $1,500 per year, which a huge chunk goes directly to the school district, and you make a salary of $30,000 per year. The 1% NEW income tax on your earnings will be an extra $300 going directly to the school district. So take the $1,500, ADD $300 from the NEW tax,. Now guess how much your tax liability increases. You will now be paying 20% more than the previous year based on this one example. Another example: if you own a $50,000 property and pay $733 in property taxes and you make $25,000 per year, the NEW income tax will add $250 to your $733, for a total of $983. That's an increase of 34% from the previous year.
BIG JUMP EH!! People can vote any way they want. Hopefully, the people in this area are a little smarter than what the district is giving us credit for. They have school books that we ALL pay for. They need to look up the definition for the word 'BUDGET.' Plus another across-the-board salary increase was awarded a few months back. Salaries account for 85% of a school district's budget.
Charles Strain Hebron