Finance

Operations

The Finance Department administers all of the fiscal operations for the City. These operations include:

• Accounts payable
• Accounts receivable
• Budgeting
• Financial reporting
• Income tax collection
• Investments
• Payroll
• Purchasing
• Utility billing (Water, Sewer, Refuse, Storm Water, Wellfield Protection)

2016 New Tax Ordinance

For the tax year beginning on or after January 1, 2016, the interest rate is 5% per annum (0.42 per month)

For the tax year beginning on or after January 1, 2017, the interest rate is 6% per annum (0.50 per month)

For the tax year beginning on or after January 1, 2018, the interest rate is 6% per annum (0.50 per month)

For the tax year beginning on or after January 1, 2019, the interest rate is 7% per
annum (0.58 per month)

These rates are being published in accordance with Ohio Revised Code 718.27(F) which states that “By the thirty-first day of October of each year the municipal corporation shall publish the rate described in division (A) of this section applicable to the next succeeding calendar year”. This rate does not apply to tax balances for any prior tax years, regardless of when they are filed, which are still subject to the interest rate of 1% per month as stated in 890.10(a) of the City of Middletown Income Tax Code covering tax years beginning prior to January 1, 2016.