Yes. The Task Force has reviewed and considered a variety of funding options, including an income tax levy. Because an income tax levy is dependent on those living in the district, it is less secure and not recommended by financial advisors due to its instability. If someone making $150,000/yr. moves out of the district or loses a job, the funding generated is lost.

Additionally, the interest rate is higher for this type of funding source, and the term is shorter compared to a property tax, which would increase the annual commitment (23 years is the longest term for an income tax).

For example, funding a $52 million bond issue in our community through a 50/50 split of income tax and property tax would require a 1.25% income tax over a 23 year term and 4.8 mil property tax over a 37 year term. The income tax would generate $26,000,000 toward the project and would cost an estimated $625/year per $50,000 of income. The property tax would then generate $26,000,000 as well, and cost property owners $168/year per $100,000 of market value. A person making $50,000/ year and living in a $100,000 home in our community would pay an estimated total of $793/year.

Funding the same issue through property taxes, would require a 10.10 mil property tax levy and would cost $353.50/year per $100,000 of market value.

How much will the project cost?

How much will the project cost me?

Why did the millage amount change from 10.37 to 10.243 mills?

Why are we not considering renovating our buildings?

What about the Permanent Improvement (PI) Levy that was just renewed?

Was an income tax levy considered?

How is the Ohio Facilities Construction Commission (OFCC) assistance percentage calculated?

What is the District doing to demonstrate fiscal responsibility?

How would new buildings impact learning?

What is a mill?

Have you looked into grant funds available for Appalachian county districts?

What is the plan for Budd & McMullen sites?

What are the impacts on transportation moving to one building?

How do you get all students through one lunch/cafeteria?

Can we afford to maintain the older buildings during potential new construction?

How many job cuts for staff due to downsizing?

How do you reach those who rent rather than own homes in Loudonville and Perrysville?

Where can I find more information about the district’s Master Facilities Plan?