LTD May Increase Payroll Tax
Lane Transit District is considering boosting its payroll tax starting as soon as next year. The LTD board says the additional income will help it restore bus services to the area.
With an improving economy, LTD says it's exploring an increase from $7 to $8 per $1000 dollars of payroll over 10 years. LTD's Andy Vobora says it's still deliberating on how soon to begin implementation.
Vobora: "It allows the district to invest more. We've got a community investment plan that lays out 3 years of just about $3 million in additional services to the community that will be funded by this."
Vobora says if LTD implements the payroll tax increase in 2016, they'll have $500-thousand more to put into service improvements. Revenue from payroll taxes make up the majority of LTD's budget - 71 percent. The rest comes from fares and federal funds.