Are my derailment-related payments tax-exempt?

The Village of East Palestine is enacting an ordinance to provide a special, new local tax exemption for derailment-related payments that the Village’s taxpayers receive, such as payments from Norfolk Southern for housing or other needs. The first of the tax exemption’s three required readings before the Village Council was on August 28, 2023, which means it should go into effect 30 days after the last reading on September 25. It will apply to all 2023 and future income related to the derailment.