Why the Estate Tax is Good for Ohio
June 7, 2011
In 2010, Ohio’s estate tax produced $230.8 million for local governments, in addition to the $55 million that went to the state’s General Revenue Fund. It provides an important source of revenue not only to affluent communities but to places ranging from Elyria to Springfield and Parma to Findlay. Fewer than 8 percent of all Ohio estates pay the tax, so it is a tax on the affluent, not on the middle class. As the Ohio General Assembly prepared to repeal the estate tax in June 2011 – a move that would slash needed revenue and increase inequality in our state – Policy Matters released this report detailing the reasons to keep this smart, progressive tax.