Economy aids record tax funds in districts
An improving economy is being called a significant factor in the continued increase in tax revenue in the development districts Miami Twp. shares with three cities.
The three Joint Economic Development Districts for Austin Center, Dayton and the Dayton Mall — which employ thousands of people and include dozens of restaurants and other nightspots – eclipsed $2 million in annual tax revenue for the first time in 2017.
“That’s obviously a sign the
economy is doing better,” said Miami Twp. Community Development Director Chris Snyder. “People are either being paid more or they’re hiring more individuals. Wages overall are going up. “
Combined, the three districts brought in an estimated $2,102,598, topping last year’s figures of $1,774,805, documents show.
The Austin Center JEDD – which also includes Miamisburg and Springboro – brought in an estimated $860,000 and the Dayton Mall district shared with Miamisburg took in about $817,052, records released last week show. The district with Dayton - consisting largely of Dayton-Wright Broth-
ers Airport land - brought in an estimated $425,546.
“The Austin JEDD and the Dayton Mall JEDD, their income is more dependent upon the retail and restaurant environment than the city of Dayton JEDD,” said Snyder. “As the retailers and restaurants do better, obviously we’re going to see that in more income tax receipts.
“I don’t see what each business is generating for each dollar, but obviously we’re seeing improvement out there,” he added.
The increase in revenue will translate into larger disbursements for each JEDD member. Miami Twp. disbursements for 2017 total $1,040,792, up from $630,918 last year, records show.
Miamisburg will get $374,738, compared to $214,484 in 2016. Springboro is tabbed for $185,103, about three times more than last year’s $61,701 while Dayton is set for $119,576, about $5,000 more than a year ago, records show.
“It’s bringing extra revenue into the city that we wouldn’t have had if not for these JEDDS,” Miamisburg Mayor Dick Church Jr. said, noting there is “a better cooperation and a working relationship between us and the township on some joint efforts.”
The Austin Center JEDD – home to Austin Landing — levies a 2.25 percent income tax on all retail businesses and some offices within the boundaries.
It also levies a hotel tax. The township gets about 57 percent of all tax revenue payouts, while Miamisburg receives about 22 percent and Springboro roughly 20 percent, officials said.
The addition of the Staybridge Suites, which was opened in late spring at Austin Landing, joined the Hilton Garden Inn as the complex’s second hotel and helped boost revenue from $135,526 in 2016 to $180,000, said Miamisburg Finance Director George Perrine, treasurer for the Austin Center JEDD board.
The Dayton Mall JEDD — which is re-branding the mall area as the Miami Crossing District — has the same income tax rate, and the township gets 70 percent of those disbursements. The Dayton JEDD income tax rate is 1.75 percent and is split evenly between that city and the township.