Lakewood’s 2012 Income Tax Collection Highest in Years

Other revenue streams are down or flat; however income tax collection is at a five-year high.

Earlier this year, Lakewood Patch reported a series of stories about the city’s 2012 income tax projections. It was expected that the city would experience a steady, continued growth. Turns out, Lakewood’s forecast was about 4 percent higher than estimated. Instead of the projected $18.5 million in income tax collections, the city brought in $19.25 million. All revenue from income tax goes directly into the city’s general fund. (For a complete breakdown of the city’s 2012 financial overview, check out the city’s website, or check out the PDFs at the right) Judging by the city’s income tax collection alone, Lakewood appears to be climbing out of the Great Recession.  But there’s still more work to do. “As we’ve seen our income tax revenues …

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