By the Numbers: Sales Tax Facts

Page 1

By the Numbers

Sales-Tax Facts The Hamilton County Board of Commissioners voted 2-1 June 18 to raise the county’s sales and use tax by 0.2 percent, effective Oct. 1, which would take the tax to 7.2 percent. Sales-tax rates range from 6.5 percent to 8 percent across Ohio, with the vast majority of the 88 counties (52) levying a 7.25 percent rate. The state of Kentucky does not allow counties to add to the state rate, which stands at 6 percent across the state. (Research by Bill Ferguson Jr.)

Highest sales-tax rate in Ohio:

8% (Cuyahoga County)

Butler County – 6.5% Clermont County – 6.75% Hamilton County – 7% Warren County – 7%

$30 million

Expected annual revenue from additional 0.2% in sales taxes in Hamilton County

$200.5 million Amount raised by Hamilton County sales tax in 2016

Hamilton County’s 7% sales-tax breakdown: 5.75% State of Ohio base sales-tax rate (2013) 0.5% Paul Brown Stadium/Great American Ball Park/ The Banks area (1996) 0.5% Piggyback on state tax rate for general use (1970) 0.25% Cincinnati Museum Center restoration (2015)

$10.8 billion

Amount raised in fiscal year 2017 by state of Ohio 5.75% sales tax (42.6% of revenue for the state)

SOURCES: OHIO DEPARTMENT OF TAXATION, KENTUCKY DEPARTMENT OF REVENUE, COUNTY OF HAMILTON, OHIO w w w.

m a g a z i n e . c o m : : A U G U S T/S E P T E M B E R 2 0 1 8

11


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.