Municipal Income Tax for Rental Properties

[Christopher Goll]

I was surprised to find out that in addition to filing state and federal income taxes, many areas where people invest in rental property have local income tax requirements for NET PROFITS made on rental property.  

Most suburbs around Cleveland have this for example.  Is everyone aware of these and is everyone filing annually with the local governments?  

Also how prevalent are these types of taxes in other areas?

[Basit Siddiqi]

@Christopher Goll

This is a city by city thing. You have to know the tax rules or work with a CPA who is familiar with them.

NYC, Philadelphia, pockets of Ohio, etc
Detroit, a major city in your state, even has a locality tax return.