The Finance Department is responsible for all phases of financial management that are mandated by federal, state and local statutes. The department must:
- Prepare an annual budget
- Monitor and control the disbursement of all monies entrusted to it
- Process all revenues received
- Issue timely and accurate financial reports
- Invest funds in accordance with state and local regulations
- Certify fund availability for all purchases of materials, services and equipment necessary for the efficient operations of all city departments
- Process the payroll for all employees of the city on a biweekly basis in accordance with all ordinance and contract provisions
The City of Mayfield Heights has a diversified tax base that provides the resources necessary to support the many services that the community has come to expect from the city administration. Income tax provides over 55% of all General Fund revenues. The other significant source of revenue is the property tax. For more information on taxes, click here.
Regional Income Tax Agency (R.I.T.A.)
The City's income tax rate is the lowest in the area at 1.5%. The Regional Income Tax Agency (R.I.T.A.) collects the tax for the City. Details about the City's tax code can be accessed online on the R.I.T.A. website by entering Mayfield Heights in the Search bar, and then clicking on Mayfield Heights. Forms are also available, as well as rates for all R.I.T.A. member municipalities.