While a candidate running for Findlay mayor Lydia Mihalik stated a few times that she would not support a tax renewal. Now that she is in office and is getting a first hand look at the city's finances, she may be forced to change that stance.
A three year 1/4% income tax will come to an end. This tax brings in $4 million. Once the sunset of this tax happens, the city is looking at a $6 million shortfall. They city is pursuing another 1/4% tax to help with $6 million deficit. The administration is looking at every option possible to help bring the finances in order. A big chunk of their expenses comes from employee insurance which is $6 million and after the decision by the Supreme Court to uphold President Obama's healthcare reform plan, it will be a wait and see to know how it will affect Findlay's finances.
Findlay mayor, Lydia Mihalik, said "do we have to pay more because our plan is so rich? will we have to pay a fee because we have part time employees? I think these are all questions that remained to be answered and I think today's decision bares very heavily on not only local governments but the private sector in general. I think this was a landmark decision obviously by the supreme court and who knows how it's going to shake out, but it's very disappointing."
Mayor Mihalik and city council will now decide terms for the potential 1/4% income tax as they move forward on balancing the city's finances.
