Last year, real-estate developer and art collector Ron Pizzuti opened the doors to the Pizzuti Collection in the Short North, a venue at which to showcase his vast art collection. After purchasing his first piece of art in 1972, he has since amassed more than 1,500 works by artists ranging from Frank Stella to Ai [...]
Columbus-Area Leaders Speak Out Against Proposed Estate Tax Repeal
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State leaders have proposed ending Ohio’s estate tax. But some Columbus-area leaders say repealing it would be a detriment to their communities.
Supporters of an estate tax repeal say it would help small businesses and the middle class … and it would keep older, wealthy people from moving to states without the tax, like Florida.
But Columbus Mayor Michael Coleman disagrees. He vehemently opposes the repeal.
“They’re cutting taxes to the rich, while at the same time cutting services to ordinary people,” Coleman said.
Coleman said Columbus already could face a 50 percent reduction in state funds over the next two years. And losing the estate tax, he said, would affect services like police and trash pick-up.
But president of Upper Arlington City Council Frank Ciatola said he philosophically opposes the tax, but he said its repeal hurt Upper Arlington’s budget.
“I’m torn. I mean, if I wasn’t on city council I’d be strongly advocating for it to be repealed. But I think overall it will be better for our state,” he said.
The estate tax does not generate very much revenue for the state; most of the money goes to local municipalities.