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N1CNI( r® Vy w err of H°* O k'000 12650 DETROIT AVENUE - 44107 ---- 216/ 521- 7580 Lakewood City Council Council - at -Large WILLIAM F. CHINNOCK, VICE PRESIDENT THOMAS C. BROWN TRUDY WENDLING MADELINE A. CAIN, CLERK OF COUNCIL January 18, 1982 To: Members of Council Councilmen WARD I - THOMAS 0. MCBRIDE, PRESIDENT WARD II - JOHN G. SALMON WARD III - EDWARD M. GRAHAM WARD IV - JOHN P. GALLAGHER In Re: Resolution to State Legislature in Opposition to Reduction of Estate Tax Revenues to Lakewood Dear Members of Council: There is presently pending a Bill before the Ohio Senate which would reduce the 50- 50 revenue split of Ohio Estate Taxes between the State of Ohio and the local municipality of the de- ceased. As you are aware, the City of Lakewood receives an average of approximately $, 5 million per year which constitutes approxi- mately five ( 5) percent of our budget from Ohio inheritance taxes and the loss of these funds would be a severe blow to the city. If there i s to be an alteration in the 5 0 - 5 0 division be- tween state and local municipality, the equitable distribution,,., - would be seventy ( 70 percent to the municipality and thirty ( 30) percent to the state, rather than the exact opposite distribution which has been proposed. Attached you will find a resolution directed to the Ohio Legislature which demonstrates our opposition to a reduction in these revenues and requests that any alteration be in favor of an increase of these revenues to the City of Lakewood. It is recommended that this Resolution be enacted this evening. Very truly yours, William F. Chinnock Councilman - at -Large WFC: a