Princeton school puts $120 million bond issue on the May ballot. In 2013, the average homeowner of a $100,00 home would begin paying about $150 a year more in taxes on the bonds. Enquirer 1/15/2010
Little Miami School’s 16.95-mill Feb. 2 operating levy was soundly defeated 55% against 45% for. If approved, it would have cost the owner of a $100,000 home an additional $519 a year. Another levy will be on the May, 2010 ballot. Superintendent Bennet said the loss should be a warning to other school systems, more than a dozen of which are planning to seek their own tax increases later this year.
Forest Hills Skips Levy Attempt. Belt tightening might be enough to delay the levy as long as possible. From December 2008 to July 2009, more than $26.5 million was reduced from estimated expenditures for the fiscal years 2009-10 through 2012-13. Enquirer January 15, 2010.
Mariemont Board goes for 5.29-mill bond issue and 5.15-mill operating levy on the May 4 primary election ballot. Both will cost homeowners an additional $268 per $100,000 of assessed value. Source: Your Hometown, January 23, 2010.
Kings school board aims for May ballot. The 6.9-mill levy would increase taxes about $211 annually on a house value at $100,000.
Kings officials have scheduled a public forum on the district’s finaces for 7 to 8 p.m. Feb. 9 at Kings Junior High School, 5620 Columbia Road. Source: Michael Clark, Enquirer 1/23/10
RESIDENT QUESTIONS LEGALITY OF TAX HIKE
By Forrest Sellers, Northeast Suburban Life. January 27, 2010
IH resident Fred Sanborn said a recent millage move by the IH school district is illegal. The move is not legally justified.
Sanborn referred to a section of Ohio’s Revised Code which states, “no tax rate shall be levied above that necessary to produce the revenue needed by the taxing district or political subdivision for the ensuing fiscal year … unless such rate of taxation for the ensuing fiscal year is clearly required.”
Sanborn said, “(There) is no way this district is running out of money,” citing the district’s reserve fund.
The district is expected to have $24 million in the cash reserve fund by June of next year,
“Why didn’t (the district) dig into the reserve instead of passing the inside millage,” said resident Jim Troppman.
Board members gave these reasons: “the district has a proactive financial planning approach”; It has always been a prudent logical effort to have a reserve fund”; With our projections, we could burn through our reserve fund in a short period of time”; Board members also said these decisions are being made to try and avoid exhausting funds and putting an operating levy on the ballot.
RESIDENT QUESTIONS LEGALITY OF TAX HIKE
By Forrest Sellers, Northeast Suburban Life. January 27, 2010
IH resident Fred Sanborn said a recent millage move by the IH school district is illegal. The move is not legally justified.
Sanborn referred to a section of Ohio’s Revised Code which states, “no tax rate shall be levied above that necessary to produce the revenue needed by the taxing district or political subdivision for the ensuing fiscal year … unless such rate of taxation for the ensuing fiscal year is clearly required.”
Sanborn said, “(There) is no way this district is running out of money,” citing the district’s reserve fund.
The district is expected to have $24 million in the cash reserve fund by June of next year,
“Why didn’t (the district) dig into the reserve instead of passing the inside millage,” said resident Jim Troppman.
Board members gave these reasons: “the district has a proactive financial planning approach”; It has always been a prudent logical effort to have a reserve fund”; With our projections, we could burn through our reserve fund in a short period of time”; Board members also said these decisions are being made to try and avoid exhausting funds and putting an operating levy on the ballot.