Schools discuss new property tax levy
- Published: March 28, 2012
The Yellow Springs school board is considering a new property tax levy for the local district this year to make up for a recent trend of deficit spending. This year the district spent $725,000 in excess of revenue, and at that rate the district will have spent down its cash reserves to zero by the 2014–15 school year.
To avoid being taken into receivership by the state, the school board is proposing a five-year property tax levy, perhaps between 6–7.5 mills, to generate between $750,000 and $850,000 per year. The levy would go on the ballot this November.
Board members are still looking for feedback from residents about how much of a tax increase the community can afford. Here is a chart that shows how much each millage point would cost property owners in the village according to the valuation of their home, as appraised by the Greene County auditor. The chart was prepared by the Yellow Springs schools and used at a recent school board meeting to discuss the proposed parameters of a new levy. The board will discuss the issue again at its next meeting on April 12 at Mills Lawn.
See this week’s News for more on the levy discussion.