Economic Development Taxes and Incentives Taxes The City of Hilliard levies an income tax on the net profits of a business' local operations and on the wages of persons employed within the city. The rate for both is 2.0%. Residents of the city who are employed outside of the city are also subject to the 2% income tax however the city gives full credit for income taxes paid to the municipality in which they are employed. Most municipalities in Central Ohio also levy a 2% income tax however not all provide the credit. Hilliard contracts with Regional Income Tax Agency (RITA) for the collection of income taxes. Property taxes are also levied on parcels of real property owned by individuals and businesses in Ohio. Commercial property is taxed at 35% of its appraised value. Residential property is taxed at 25% appraised value. The Franklin County Auditor is responsible for assessing property value and administration of property taxes. Taxes are billed semi-annually at an effective tax rate. Property taxes on personal property and equipment is being phased out as a result of tax reform enacted by the Ohio Legislature. The Ohio Legislature enacted a series of reforms to the State's tax structure resulting in the replacement of personal property taxes, corporate franchise taxes and others with a Commercial Activities Tax on a business' gross receipts. The Ohio Department of Taxation administers the State's taxes. Incentives In addition to an excellent location, pro-business attitude and substantial investments in infrastructure access and community aesthetics the City can provide a variety of financial and non-financial incentives to induce a business' selection of Hilliard. The City, through its Economic Development Director, evaluates each project on it's own merits to determine if an offer of economic incentives is extended and the amount and terms of the offer. Typically, once a determination is made to offer an incentive package the Director will negotiate an incentive package with the business tailored to its unique needs. The key factors evaluated by the Director include the business' quality of payroll, growth prospects, compatibility within the community, level of investment and commitment. The Ohio Department of Development also provides a variety of resources and incentive programs. For more information or to discuss a specific project: Contact: David S. Meeks, Economic Development Director Direct: 614.334.2357 Dmeeks@cityofhilliard.com

Contact Us | Search | Home