Gas Tax Increase To Generate $270,000 For Vermilion
May 1, 2019 at 12:20 pm
The new Ohio gas tax increase, of 10.5 cents per gallon of gas and 19 cents per gallon of diesel, is expected to generate an extra $270,000 for Vermilion, Ohio street maintenance the first full fiscal year.
The tax increase goes into affect on July 1, 2019. The Ohio tax rate will now be 38.5 cents a gallon on gas, and 47 cents a gallon on diesel.
At the April 15, 2019 Vermilion City Council meeting, Mayor Jim Forthofer stated, "The Governor's gas tax increase proposal was refined by the House to 10 cents a gallon beginning July 1st. The City of Vermilion will receive an estimated additional $270,000 per year from the tax in the first full fiscal year."
The City of Vermilion has $767,309 in the Street Maintenance & Repair Fund, and $50,000 in the State Highway Fund, for the fiscal year 2019.
According the mayor, "This amount is designated by the state for roads, repair, equipment, personnel, etc."