Ft. Wright Lowers Payroll Tax to County's Lowest Rate
Sat, 06/26/2021 - 18:58 RCN Newsdesk
The City of Ft. Wright will have a lower payroll tax rate when the new fiscal year starts on July 1.
City council approved an ordinance dropping what is formally called the occupational license tax from 1.15% to 0.99%, the lowest rate in Kenton Co.
The tax is imposed in Ft. Wright on all wages earned before the Federal Insurance Contributions Act (FICA) Cap of $142,800 for labor, work, or services performed by an individual working within the City limits.
For a full list of the payroll tax withholding rates currently imposed by all Kenton County Cities please click here.
Mayor Dave Hatter and council members Margie Witt, Jay Weber, Scott Wall, Dave Abeln, Bernie Wessels, and Adam Feinauer unanimously supported the tax reduction initiative citing what they called the need to deliver upon a promise to the city to keep taxes as low as possible and to ensure that Fort Wright remains business-friendly.
About 57% of the city's revenue comes from business-related taxes and fees.
City council also lowered the property tax rate in Ft. Wright by 5% last fall.