The Finance Department prepares the annual budget and amends the budget when necessary. The department is also responsible for recording and depositing all revenues, while paying all payroll and general expenses incurred by the city.
Vic Nogalo – Finance Director
Terry Veloski – Assistant Finance Director
The office is open Monday through Friday during the hours of 8:00 AM – 4:30 PM.
Additional Contact Info:
Residents often have to contact the Finance Department with questions concerning property and income taxes, as well as trash removal services and billing. Below is contact information for Allied Waste, Cuyahoga County Auditor and RITA (Regional Income Tax Agency)
Allied Waste, Owned by Republic Services - (800) 433-1309
Cuyahoga County Fiscal Officer Mark A. Parks Jr. – (216) 443-7010
RITA – (440) 526-0900
Finance Director Vic Nogalo is the chief fiscal officer of the city and as such will establish and maintain accounting procedures necessary for keeping complete and accurate financial records of the City and its departments, boards and commissions.
The Finance Director assists the Mayor in preparing the annual appropriations, annual budget and all other financial matters.
The Finance Department under the direction of the Director Nogalo is responsible for accurately recording all receipts, disbursements, assets and liabilities and maintaining an accurate account of taxes and assessments.
Municipal Income Tax
The current income tax rate for the City of Olmsted Falls is 1.5% imposed on earned income, consisting of wages, salaries, commissions and other compensation as well as net profit of business attributable to activities in the municipality. A tax credit of up to .75% is allowed for tax paid to other cities.
The municipal income tax provides funds for the general municipal operation, maintenance of equipment, improvements of municipal services and facilities including capital improvements. If you have questions concerning Local Municipal Income Tax please visit RITA at http://www.rita.to/
Real Estate Property Tax
Real property tax rate in the City of Olmsted Falls (129.63 in 2014) is levied on the assessed valuation of land and buildings less credit from the tax reduction factor (HB920), percentage rollbacks and the homestead exemption as applicable. Real property tax dollars are distributed as follows, 70.6% to the school district, 10.5 to the City of Olmsted Falls, 15. 1 to Cuyahoga County and 3.8% is used to help fund the Metroparks and library. If you have information concerning property taxes and county services please visit Cuyahoga County at their WEB SITE
Any questions or concerns regarding any of the above information should be directed to the Finance Department during the hours of 8:00 AM until 4:30 PM Monday through Friday.