Local Option Income Tax Increase Approved

FORT WAYNE, Ind. (WOWO): Last night in a 6-2 vote, Fort Wayne City Council passed a financial plan that will increase local option income tax to to fill a budget shortfall. Previously 1 percent, it has now been raised to 1.35 percent and will take effect October 1st. Part of the new income tax revenue will go towards public safety, and the rest will be used to offset property tax revenue losses. Mayor Tom Henry says this is one of the most important initiatives in the history of the City of Fort Wayne. The move is the final step in clearing up a projected $11 million dollar budget shortfall.