Toledo : State Data and Comparisons : Data-Z

Toledo, OH

TIA Data

2023 Financial State of Toledo (Released 02/27/2024)

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Toledo owes more than it owns.

Toledo has a -$2,200 Taxpayer Burden.™

Toledo is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Toledo only has $723.7 million of assets available to pay bills totaling $946.3 million.

Because Toledo doesn't have enough money to pay its bills, it has a -$222.6 million financial hole. To erase this shortfall, each Toledo taxpayer would have to send -$2,200 to the city.

Toledo's reported net position is inflated by $156.6 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 181 days after its fiscal year end, which is considered untimely according to the 180 day standard.