EAST LANSING, Mich. — An update on East Lansing income tax revenue collection is scheduled to take place at the East Lansing City Council meeting on Tuesday, July 16 at 7 p.m. in Courtroom 2 of the East Lansing 54B District Court, 101 Linden St.
As of July 5, 2019, $4.6 million has been collected in income tax revenue since the beginning of January, which includes monthly and quarterly withholding from East Lansing employers and quarterly estimated payments from individuals and businesses, according to a city press release.
Final collection numbers for the first year of the income tax will be unknown until after 2019 income tax returns are filed next year. The city will refund some portion of that revenue to taxpayers, while others will owe additional amounts.
East Lansing is currently on track to collect approximately $9 million by the end of 2019, which is the budgeted amount included in the City's Fiscal Year 2020 Budget, according to a press release.
“These funds will help move East Lansing forward with much-needed reinvestment in public safety and infrastructure, while also helping us to safeguard the future financial sustainability of the City by addressing our long-term pension challenges,” East Lansing City Manager George Lahanas said in the release.
Sixty percent of the income tax revenue will supplement pension payments, 20% will go toward police and fire protection and 20% will be invested in infrastructure improvements.
Community members and employers are encouraged to contact East Lansing Income Tax Administrator DaMar Boyd at 517-319-6862 or incometax@cityofeastlansing.com.
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