Avon Releases 2017 Financial Report

AVON, OH — The city released its 2017 Community Financial Report recently. Mayor Brian Jensen writes the foreword to the report, and notes that the past year has been one of financial growth for the city.

"The city continues to experience extraordinary commercial growth, primarily on the north side of Interstate 90. In addition to the many new businesses you see here in town, there are many industrial plant expansions and renovations that go unseen. The commercial tax base in Avon benefits from these additions," he writes.

He further says the city's income tax revenue and tax incremental financing revenue have increase because of the city's commercial growth. Some of that newfound money will be directed toward the creation of Lorain County's first roundabout at the SR 83 and Mills Road intersection. Jensen said that project should help the flow of traffic in the area.

Jensen also touted the construction of the new "Every Child's Playground" site. The one acre site will be adjacent to the Avon Aquatic Facility, the mayor said.

Diving Into The Numbers

Income and property taxes are the city's two main sources of revenue. However, property taxes are primarily geared toward funding the public school system. About $4,197,012 in property taxes was collected in Avon in 2015. In 2016, that figure rose to $4,412,562.

Fiscal year 2016 saw income tax receipts rise to $17,848,810. The report notes that net income tax receipts are 17 percent higher than 2015, when Avon collected $15,451,834 in income taxes. The city believes the increase is due to more businesses opening in Avon, as well as existing businesses expanding.

The majority of the city's expenses go into two categories: capital outlay and security. Avon spent $$15,364,564 on capital outlay project during fiscal year 2016, and $10,015,974 on security.

Among the capital projects the city completed in the past year are: the relocation of Chester Road at State Route 611 which aligns the road with Recreation Lane; a water meter replacement program; paved and slightly widened Jaycox Road between Detroit Road and Chester Road; widened Chester Road to five lanes between SR 83 and Jaycox Road and more.

The full report can be viewed by clicking here.

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