Village government · Summit County, OH

Lakemore's money: where it comes from and where it goes

In the latest recorded fiscal year (ended December 31, 2023), Lakemore took in $5.6 million and spent $4.7 million.

Latest recorded year: ended December 31, 2023Comes fromGoes to

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Where it comes from

Fees for services (sewer, water)45%Village taxes30%Federal tax money12%County and local tax money7.2%Fines and other3.4%State tax money2.2%

What stands out

18%

of Lakemore's money comes from a personal income tax.Most U.S. cities, towns and villages of under 10,000 people get none.

Village taxes30%

Individual income tax
18%$1.0 million
Property tax
8.6%$479 thousand
Other taxes
3.3%$183 thousand
What's in other taxesMotor fuel taxes; motor vehicle licenses and 1 more
  • Motor fuel taxes$154 thousand
  • Motor vehicle licenses$23 thousand
  • Alcoholic beverage licenses$6 thousand

Amounts are by Census tax category.

Fees for services45%

Fees for services
45%$2.5 million
What's in fees for servicesSewer; water and 4 more
  • Sewer$1.5 million
  • Water$597 thousand
  • Garbage collection$247 thousand
  • Hospital bills$135 thousand
  • Other government-run businesses$38 thousand
  • Parks and recreation$2 thousand

Amounts are by Census type of charge.

Federal tax money12%

Grants from Washington, paid for by the federal taxes residents also pay.

From the federal government
12%$668 thousand

State tax money2.2%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
2.2%$124 thousand

County and local tax money7.2%

Money passed on by the county or other local governments.

From the county and other local governments
7.2%$402 thousand

Fines and other3.4%

Interest, rents and other
3.4%$190 thousand
Fines
<0.1%$2 thousand

Where it goes

Police, fire, courts and jails30%Sent to other local governments29%Water, sewer, trash and utilities25%Running the government and other costs11%Interest on debt5.0%Parks, recreation and libraries1.0%

What stands out

29%

of Lakemore's spending goes to local governments.Most U.S. cities, towns and villages of under 10,000 people spend nothing on this.

Spending by category100%

Police, fire, courts and jails
30%$1.4 million
What's in police, fire, courts and jailsPolice; fire protection and 1 more
  • Police$704 thousand
  • Fire protection$633 thousand
  • Courts and legal services$54 thousand
Sent to other local governments
29%$1.3 million
What's in sent to other local governmentsSent to local governments: other and not broken out
  • Sent to local governments: other and not broken out$1.3 million
Water, sewer, trash and utilities
25%$1.2 million
What's in water, sewer, trash and utilitiesWater supply; garbage and solid waste and 1 more
  • Water supply$639 thousand
  • Garbage and solid waste$271 thousand
  • Sewer systems$248 thousand
Running the government and other costs
11%$515 thousand
What's in running the government and other costsOther and not broken out; central staff services (personnel, purchasing, technology) and 1 more
  • Other and not broken out$237 thousand
  • Central staff services (personnel, purchasing, technology)$204 thousand
  • Finance, tax collection and budgeting$74 thousand
Interest on debt
5.0%$232 thousand
Parks, recreation and libraries
1.0%$49 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$49 thousand
Sources and moreWhere these numbers come from and what they cover

Village of Lakemore. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended December 31, 2023.

What this covers. The money of Village of Lakemore itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.