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Councilman Bullock then inquired about the possibility that some of the increase in recent tax <br />revenues could be attributed to the work-from-home trend during the COVID-19 pandemic. <br />Assistant Finance Director Eddy confirmed that, indeed, if an individual is working from home <br />in Lakewood, they are currently required to withhold taxes for Lakewood. She noted that <br />Lakewood’s income tax revenue baseline should remain stable from 2022 onwards, citing <br />significant changes in income tax patterns after the pandemic. <br />Councilman Rader asked about the potential negative impacts of House Bill 33 on other <br />provisions in Lakewood. Assistant Director Eddy responded by explaining that while the bill <br />would alter the tax collection process, the only provision with potential revenue implications is <br />the one limiting late filing penalties. <br />Baker asked if the proposed changes in Ordinance 2023-36 are strictly in accordance with House <br />Bill 33. The Assistant Director clarified that Ordinance 2023-36 simply reflects the changes <br />made in House Bill 33. <br />Councilman Baker then asked a question about the distinction between credit processing fees and <br />ACH payments for utility and tax payments, particularly noting that some customers may opt for <br />credit card payments as a means to pay bills or to accrue credit card points. Finance Director <br />Rancatore responded, stating that in 2023, there was a concerted effort to reduce credit card <br />processing fees for the City, and that the Finance Department will be exploring the potential use <br />of credit cards further in 2024. <br />Finance Committee adjourned at 9:12 p.m. <br />Approved: ______________________________________ <br />Jason Shachner, Chair <br />Finance Committee <br />______________________________________ <br />Maureen M. Bach, Clerk of Council <br />10 <br /> <br />