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MTC - Final Report 1-22-10
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MTC - Final Report 1-22-10
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2/11/2012
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recentlyin2007fortransportationneeds. <br />RevenueYield&Assumingthatapproximately68%ofLaneCountyincomeisearnedwithin <br />StabilityEugeneorbyEugeneresidents,a1percenttaxonAdjustedGrossIncome <br />wouldgenerate$51million.Alternatively,aEugeneincometaxcouldbe <br />leviedasapercentageoftheƚĂdžƉĂLJĞƌ͛Ɛstateincometaxliability.AEugene <br />surchargeof10percentwouldhaveraisedabout$28millionforfiscalyear <br />20078. <br />Taxrevenueswouldfluctuatewithchangesinpersonalincomeandmirror <br />economicconditions. <br />RevenueAdequacyApersonalincometaxcouldmeettherevenueneedsofthecityʹhowever <br />therecouldbeahighadministrativecostassociatedwithcollection. <br />AdministrativeEffortTherearenospecificestimatesofthecostofadministration,collectionand <br />enforcementassociatedwithadministrationofthisrevenuesource.Itis <br />assumedinhouseadministrationcostswouldbesignificant. <br />Analternatecollectionpossibilitycouldbeto͞ƉŝŐŐLJďĂĐŬ͟onthestate <br />incometaxmuchlikemunicipalitiesdowithalocalsalestaxwithstatesthat <br />collectastatesalestax.Thestatecollectstheentiresalestaxandremitsthe <br />localsharebacktothemunicipality.Theresponsibilityforcomplianceand <br />collectionthenrestswiththestate.Itispossiblethatasimilarmechanism <br />couldbeusedforalocalpersonalincometaxiftheStatewerewillingto <br />collectthelocalshare. <br />TimelineApersonalincometaxwouldmostlikelybereferredtotheballotʹthe <br />earliestopportunitytogobeforethevoterswouldbeinMayof2010.The <br />Citywouldhavetoestablishacollectionmechanismʹeitherinhouseorin <br />coordinationwiththeDepartmentofRevenuetoestablishproceduresaround <br />thedistributionofthetax.Theearliestcollectionsfromapersonalincometax <br />wouldstartbeingreceivedwouldmostlikelybeApril2012fortaxyear2011. <br />Incidence&EquityAllEugeneresidentsearningincomewouldpaythetaxregardlessofemployer <br />orsourcelocationandpotentiallynonresidentsthatareearningincomein <br />Eugeneaswell. <br />Generallyanincometaxisdesignedtobeprogressive,butthestructureof <br />thetaxcanincreaseordecreaseprogressivity.Thistaxwouldmirrorthe <br />progressivityofOregonstateincometaxesifestablishedasasurchargeto <br />stateincometaxliability. <br />NexusApersonalincometaxisageneraltaxthatwouldsupportawiderangeofCity <br />services. <br />ConsistencywithThisrevenuesourcewouldbeconsistentwithadoptedCityCouncilgoals& <br />CouncilGoals&Policiespolicies. <br />Fairness&PoliticalInthecurrenteconomicenvironment,apersonalincometaxmaybeviewed <br />Feasibilityasunfairespeciallygiventhehighunemploymentrateintheregion.Lane <br />Countywasunabletopassapersonalincometaxinamorestableeconomic <br />environment.ItisexpectedtherewouldbelimitedCouncilandcommunity <br />supportforsuchameasureatthistime. <br /> <br />
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