Detailed information about Ohio s school income tax can be found here:

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Detailed information about Ohio s school income tax can be found here:"

Transcription

1 FAQ s Chardon Schools Issue 4 on the May 4, 2010 Ballot Is there a new tax being proposed to fund our schools? Yes. It was determined by a majority vote of the Chardon School Board, with supporting research conducted by the Treasurer s office, that an earned income tax, combined with the current revenue generated from property taxes, would offer a fairer and more equitable means to provide the schools with financial stability. The School Board has placed Issue 4 on the May 4, 2010 ballot. Why is there also a 1 mill reduction in property taxes? School income taxes can only be levied in one-quarter percent increments. In the Chardon district, a.75% tax would not generate enough income, while the 1% tax will generate slightly more than the district s needs. That is why the ballot issue also calls for a 1 mill reduction in current property taxes paid. This combination provides the district the conservative revenue necessary to balance our budget well into the future. Detailed information about Ohio s school income tax can be found here: Why is the District on the ballot this May? School levies are a fact of life in Ohio because legislation which freezes property tax revenues to schools. Unlike income and sales taxes, which rise with inflation, school property tax is frozen at the last dollar amount approved by the voters. School districts must therefore pass levies to keep even with rising costs. While every effort is made to keep our district s costs down, manage expenses and make realistic projections with consideration of the concerns expressed by the community, the state and federal governments continue to saddle school districts with several unfunded mandates that continue to increase operating costs locally.

2 Below are graphs showing the district s income and expenses:

3 Below is a graph of the district s current five-year forecast which is required by the state of Ohio. As you can see, even with the planned reductions, we show a negative balance starting in FY Public school districts are required to operate in the black, so it is necessary to go to voters to request additional funds. What is the district doing to reduce costs? Our residents and businesses are tightening their belts and we know that our community expects the school district to do the same. The district has taken measures to control and contain spending. Regardless of the proposed levy, the district will be making cuts amounting to $1.25 million; approximately $180,000 reduction in administration, $250, 000 in reductions at the elementary level, $275,000 at the middle/high schools, $150,000 in extra-curricular fees and $95,000 in transportation.

4 What will I see on the ballot in May? The district is requesting a 1% tax on earned income and self employment income only. This type of tax effects people who earn wages or are selfemployed S corporations and reside within the Chardon Local School District. Income from Social Security, pensions, stocks, interest or other sources are not taxed. Additionally, the ballot issue calls for a reduction of 1 mil of current property tax millage. On $100,000 dollars of market value, a one mil reduction would be approximately $30 per year. The school board decided that funding our school district through an earned income tax is the most equitable way to bring financial stability to the district. While it will mean more taxes for some residents and less for others, it removes the burden of total reliance on property tax alone. Example: Earned Income School Tax $25,000 $250 $50,000 $500 $100,000 $1,000 $200,000 $2,000 Is there an alternative to a tax levy? No, there is no alternative at this time. Currently it is the responsibility of each community to adequately fund their public school system. However, the good news regarding this type of local taxation is that revenues raised can be locally governed. This strategy of using both income tax and current property taxes is intended to relieve the reliance on property tax levies alone and provide some relief to those on low or fixed incomes. The only other alternative is to fund our schools as we have been, solely with property taxes.

5 How do Chardon s school taxes compare to other districts? Below is a school millage comparison for area districts. As you can see Chardon s millage is slightly below average for this area.

6 How do we compare to other districts in terms of our cost per pupil? The below graph illustrates that the Chardon Schools cost per pupil of $9891 is below the state average, and below that of many neighboring districts. Quality results on a tight budget. Do we need to pass this now? A 1% earned income tax would generate approximately $4.5 million for the district. The collection of income taxes is slower than for property taxes. The full collection of earned income tax is estimated to be realized approximately 18 months after collection begins in January 2011 If the earned income tax does not pass we will need to be on the ballot more often in an effort to stabilize the district s financial forecast for a five-year period of time which is required by the State of Ohio. A diversified tax will stop the over reliance on property tax as the only local means to help fund our schools. April 9, 2010

Taken from Guide to Ohio s School District Income Tax 2009 Ohio Dept. of Taxation

Taken from Guide to Ohio s School District Income Tax 2009 Ohio Dept. of Taxation Taken from Guide to Ohio s School District Income Tax 2009 Ohio Dept. of Taxation 1. WHAT IS A SCHOOL DISTRICT INCOME TAX? The school district income tax is an income tax separate from federal, state,

More information

GUIDE TO OHIO S SCHOOL DISTRICT INCOME TAX Prepared by THE OHIO DEPARTMENT OF TAXATION JUNE 2013 TABLE OF CONTENTS

GUIDE TO OHIO S SCHOOL DISTRICT INCOME TAX Prepared by THE OHIO DEPARTMENT OF TAXATION JUNE 2013 TABLE OF CONTENTS Gui det oohi o s SchoolDi st r i ct I ncometax Updat edjune2013 GUIDE TO OHIO S SCHOOL DISTRICT INCOME TAX Prepared by THE OHIO DEPARTMENT OF TAXATION JUNE 2013 TABLE OF CONTENTS General Filing On the

More information

2015 LEVY CAMPAIGN TOOLKIT YES ON ISSUE #6!

2015 LEVY CAMPAIGN TOOLKIT YES ON ISSUE #6! 2015 LEVY CAMPAIGN TOOLKIT YES ON ISSUE #6! KEY TALKING POINTS: Lancaster City Schools will ask voters to renew the district s current 1.5% earned income tax levy in the 2015 November election. The current

More information

NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2013-2017

NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2013-2017 Real Estate Tax Assumptions NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2013-2017 REVENUE ASSUMPTIONS Real estate taxes had increased at approximately 1.1% to 2.0% through 2012 and a 1.5% increase

More information

CHARTER TOWNSHIP OF FENTON SEWER SYSTEM FINANCIAL OVERVIEW JANUARY, 2014

CHARTER TOWNSHIP OF FENTON SEWER SYSTEM FINANCIAL OVERVIEW JANUARY, 2014 CHARTER TOWNSHIP OF FENTON SEWER SYSTEM FINANCIAL OVERVIEW JANUARY, 2014 Fenton Township receives numerous inquiries regarding the relatively high sewer use fees that Township residents have been paying

More information

Property Tax Levy Law. Mike Sobul, Treasurer Granville EVSD OSBA Capital Conference November 13, 2012

Property Tax Levy Law. Mike Sobul, Treasurer Granville EVSD OSBA Capital Conference November 13, 2012 Property Tax Levy Law Mike Sobul, Treasurer Granville EVSD OSBA Capital Conference November 13, 2012 Constitutional Restrictions O. Const. Art. XII, Sec. 2 imposes two primary limitations on real property

More information

MINNESOTA SCHOOL DISTRICT LEVY EQUALIZATION. Purpose, History and Mechanics

MINNESOTA SCHOOL DISTRICT LEVY EQUALIZATION. Purpose, History and Mechanics 2/27/2013 Purpose of Equalization 1. Legal context MINNESOTA SCHOOL DISTRICT LEVY EQUALIZATION Purpose, History and Mechanics a. Minnesota Constitution, Article 13, Section 1 i. It is the duty of the legislature

More information

passage of this legislation allowing voters the option of using sinking funds for the same purposes as bonded debt does not increase taxes

passage of this legislation allowing voters the option of using sinking funds for the same purposes as bonded debt does not increase taxes Summary and Analysis There is legislation before the Michigan Legislature [House Bill (HB) 4824 and Senate Bill (SB) 688] that would allow the proceeds from sinking fund millages to be used by Michigan

More information

Voted Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation

Voted Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation Voted Property Tax Levies Prepared for the 11 th Annual Local Government Officials Conference April 7, 2010 Shelley Wilson, Executive Administrator Tax Equalization Division Ohio Department of Taxation

More information

Little Miami Local Schools Five Year Forecast Footnotes/Assumptions

Little Miami Local Schools Five Year Forecast Footnotes/Assumptions Little Miami Local Schools Five Year Forecast Footnotes/Assumptions Dear Reader, The attached General Fund forecast is based upon years of historical data and a list of assumptions for revenues and expenditures

More information

A CITIZEN S GUIDE TO REDUCING YOUR SCHOOL DISTRICT TAX BURDEN OVERVIEW

A CITIZEN S GUIDE TO REDUCING YOUR SCHOOL DISTRICT TAX BURDEN OVERVIEW A CITIZEN S GUIDE TO REDUCING YOUR SCHOOL DISTRICT TAX BURDEN Maurice A. Thompson December 20, 2011 OVERVIEW Ohio school districts continue to surrender to political pressure at the collective bargaining

More information

Property Tax Levy Cap

Property Tax Levy Cap Published October 2011 Understanding New York s Property Tax Levy Cap as it relates to public schools In this first year of New York s property tax cap, details about its provisions and implementation

More information

Question: What revenue options are being considered? Answer: A public service tax, a fire services assessment and property taxes.

Question: What revenue options are being considered? Answer: A public service tax, a fire services assessment and property taxes. REVENUE OPTIONS FOR ECONOMIC SUSTAINABILITY Updated 4-25-13 (New Information in Green) Question: Why is the City going to be out of money? Answer: The City needs more revenue to maintain services and begin

More information

2% TAX LEVY CAP (PROPERTY TAX CAP) Board of Education and Public Presentation October 26, 2011 November 30, 2011

2% TAX LEVY CAP (PROPERTY TAX CAP) Board of Education and Public Presentation October 26, 2011 November 30, 2011 2% TAX LEVY CAP (PROPERTY TAX CAP) Board of Education and Public Presentation October 26, 2011 November 30, 2011 Context: Challenges Facing Schools Implementation of a Tax Levy Cap Reduction in State Aid

More information

MESSAGE FROM THE SUPERINTENDENT December 12, 2014

MESSAGE FROM THE SUPERINTENDENT December 12, 2014 New Lenox School District 122 102 South Cedar Road, New Lenox, Illinois 60451 Phone 815-485-2169 Fax 815-485-2236 MESSAGE FROM THE SUPERINTENDENT December 12, 2014 Dear New Lenox School District 122 Families:

More information

PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING

PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING 988-89 TO 998-99 Prepared for THE COLORADO SCHOOL FINANCE PROJECT Colorado Association of School Boards Colorado Association of School Executives Colorado

More information

New York Property Tax Cap Implications for School Districts

New York Property Tax Cap Implications for School Districts New York Property Tax Cap Implications for School Districts Deborah H. Cunningham Director For Education and Research New York State Association of School Business Officials December 17, 2014 dcunningham@nysasbo.org

More information

State Notes TOPICS OF LEGISLATIVE INTEREST Winter 2013

State Notes TOPICS OF LEGISLATIVE INTEREST Winter 2013 Personal Property Tax Reform Legislation By David Zin, Chief Economist On December 27, 2012, the Governor signed Public Acts (PAs) 397 through 404 of 2012, as well as PAs 406, 407, and 408. Public Acts

More information

School District Property Tax Review

School District Property Tax Review Fall 2011 School District Property Tax Review Property Tax Reform Policy Development Team Representative Seth Grove Team Co-Leader Majority Policy Chairman Representative Dave Reed Representative Jim 1

More information

Planning for Our Future 10 YEAR FINANCIAL PLAN REVIEW

Planning for Our Future 10 YEAR FINANCIAL PLAN REVIEW Planning for Our Future 10 YEAR FINANCIAL PLAN REVIEW AGENDA Mission/District Goals Operational Plan....Boone Hall FY11 Financial Activity Tim Dettwiller The Forecast.Tim Dettwiller The Proposed Plan...Tim

More information

School Finance Formula Funding

School Finance Formula Funding School Finance Formula Funding Craig Harper Joint Budget Committee Staff Craig.Harper@state.co.us 303-866-3481 Todd Herreid Legislative Council Staff Todd.Herreid@state.co.us 303-866-2633 March 16, 2016

More information

Aiken County Proposed 1 % SALES TAX

Aiken County Proposed 1 % SALES TAX Aiken County Proposed 1 % SALES TAX Aiken County is bigger than you think Aiken County Rhode Island Aiken County is actually 28 square miles larger than the state of Rhode Island. Aiken County School buses

More information

LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm

LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm STATE OF OREGON LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm Research Report (503) 986-1266 Research Report #6-99 The New

More information

THE BASE FORMULA PRIOR SCHOOL-YEAR TAX LEVY X TAX BASE GROWTH FACTOR + PILOTS RECEIVED IN PRIOR SCHOOL YEAR

THE BASE FORMULA PRIOR SCHOOL-YEAR TAX LEVY X TAX BASE GROWTH FACTOR + PILOTS RECEIVED IN PRIOR SCHOOL YEAR New York s Tax Levy Limit Formula: How does it add up? The quantity change factor, determined by the Dept. of Taxation and Finance for each district by Feb. 1. It s the year-to-year increase in the full

More information

NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2015-2019

NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2015-2019 Real Estate Tax Assumptions NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2015-2019 REVENUE ASSUMPTIONS Real estate taxes had increased at approximately 1.1% to 2.0% through 2013 and a 0.5% increase

More information

Navigating through Year Two. Property Tax Levy Cap

Navigating through Year Two. Property Tax Levy Cap Published March 2013 Navigating through Year Two of New York s Property Tax Levy Cap With year one of New York s property tax cap now behind us, details about the law s provisions and impact continue to

More information

How Measure 50 Changed The Property Tax System

How Measure 50 Changed The Property Tax System How Measure 50 Changed The Property Tax System To understand how Measure 50 changed the property tax system, it is helpful to understand its historical context. Two types of governmental bodies are funded

More information

What You Need to Know about the Tax Levy Cap

What You Need to Know about the Tax Levy Cap 1. What is the tax levy cap? The tax levy cap is a law that places strong restrictions on how school districts can raise revenues. At its basic level, the tax levy cap legislation makes it very difficult

More information

Miami County, Ohio FIVE-YEAR FINANCIAL FORECAST NOTES AND ASSUMPTIONS. For the Fiscal Years Ending June 30, 2015 through 2019

Miami County, Ohio FIVE-YEAR FINANCIAL FORECAST NOTES AND ASSUMPTIONS. For the Fiscal Years Ending June 30, 2015 through 2019 Miami County, Ohio FIVE-YEAR FINANCIAL FORECAST NOTES AND ASSUMPTIONS For the Fiscal Years Ending June 30, 2015 through 2019 May 11, 2015 The mission of the Troy City Schools, in partnership with our community,

More information

DEBT MANAGEMENT. Overview of Debt Management. Gallatin County Debt Management. Approved Bond Issues

DEBT MANAGEMENT. Overview of Debt Management. Gallatin County Debt Management. Approved Bond Issues 373 Gallatin County Debt Management Debt, in a governmental entity, is an effective financial management tool. Active debt management provides fiscal advantages to the County and its citizens. Debt can

More information

MICHIGAN DEPARTMENT OF TREASURY BUREAU OF STATE AND AUTHORITY FINANCE SCHOOL BOND QUALIFICATION AND LOAN PROGRAM

MICHIGAN DEPARTMENT OF TREASURY BUREAU OF STATE AND AUTHORITY FINANCE SCHOOL BOND QUALIFICATION AND LOAN PROGRAM MICHIGAN DEPARTMENT OF TREASURY BUREAU OF STATE AND AUTHORITY FINANCE SCHOOL BOND QUALIFICATION AND LOAN PROGRAM 2014 Annual Report Table of Contents 1 Program Overview 3 Statewide Perspective 4 School

More information

Michigan League for Human Services. Proposal A, School Aid, and the Structural Deficit

Michigan League for Human Services. Proposal A, School Aid, and the Structural Deficit Michigan League for Human Services November 2004 Proposal A, School Aid, and the Structural Deficit This year marks the 10 th anniversary of the passage of school finance reform, known as Proposal A. Proposal

More information

SCHOOL FINANCE IN COLORADO

SCHOOL FINANCE IN COLORADO STATE OF COLORADO LEGISLATIVE COUNCIL COLORADO GENERAL ASSEMBLY STATE CAPITOL BUILDING RM 029 200 EAST COLFAX AVENUE DENVER CO 80203-1784 M110300000 SCHOOL FINANCE IN COLORADO Legislative Council Staff

More information

Research Report HOW CHARTER SCHOOL FUNDING COMPARES. Florida TaxWatch Center for Educational Performance and Accountability.

Research Report HOW CHARTER SCHOOL FUNDING COMPARES. Florida TaxWatch Center for Educational Performance and Accountability. Research Report HOW CHARTER SCHOOL FUNDING COMPARES February 2012 Florida TaxWatch Center for Educational Performance and Accountability How Charter School Funding Compares A Florida TaxWatch Research

More information

The state budget and Ohio s schools Big cuts, hard choices, local impacts Wendy Patton, Piet van Lier and Elizabeth Ginther

The state budget and Ohio s schools Big cuts, hard choices, local impacts Wendy Patton, Piet van Lier and Elizabeth Ginther Education January 19, 2012 The state budget and Ohio s schools Big cuts, hard choices, local impacts Wendy Patton, Piet van Lier and Elizabeth Ginther Executive summary The state budget, House Bill 153,

More information

SCHOOL FINANCE IN COLORADO

SCHOOL FINANCE IN COLORADO SCHOOL FINANCE IN COLORADO Legislative Council Staff State Capitol Building, Room 029 200 East Colfax Avenue Denver, CO 80203 Phone: (303) 866-3521 April 2012 STATE OF COLORADO LEGISLATIVE COUNCIL COLORADO

More information

Debt Comparison by Unit Type

Debt Comparison by Unit Type QUESTIONS from the COMMUNITY 1. Recently, it was put out that our school district was over $4,000,000 in debt. A website was also introduced that had some of this statistical data. What is the story with

More information

Public Education Funding Solutions June 17, 2014

Public Education Funding Solutions June 17, 2014 Public Education Funding Solutions June 17, 2014 Testimony submitted to the State Board of Education by: Christine Stead, Vice President, AAPS Board of Education Glenn Nelson, Treasurer, AAPS Board of

More information

Wayne Local Schools Business Plan Notes (2012-2016) SUBMITTED MAY OF 2012

Wayne Local Schools Business Plan Notes (2012-2016) SUBMITTED MAY OF 2012 Please visit the Ohio Department of Education website at ftp://ftp/ode.state.oh.geodac/5-yrforecast/ Wayne Local Schools Business Plan Notes (2012-2016) SUBMITTED MAY OF 2012 The following are the assumptions

More information

Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation:

Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation: Property Tax Levies Prepared for the 2013 Annual Local Government Officials Conference April 4, 2013 Tax Equalization Division Ohio Department of Taxation Agenda I: Types of Property Tax II: Inside Millage

More information

150-303-405 (Rev. 6-09)

150-303-405 (Rev. 6-09) A Brief History of Oregon Property Taxation 150-303-405-1 (Rev. 6-09) 150-303-405 (Rev. 6-09) To understand the current structure of Oregon s property tax system, it is helpful to view the system in a

More information

TAX AND REVENUE ISSUES IN THE FY 2010 BUDGET

TAX AND REVENUE ISSUES IN THE FY 2010 BUDGET An Affiliate of the Center on Budget and Policy Priorities 820 First Street NE, Suite 460 Washington, DC 20002 (202) 408-1080 Fax (202) 408-1073 www.dcfpi.org TAX AND REVENUE ISSUES IN THE FY 2010 BUDGET

More information

Willoughby-Eastlake City Schools 3707 Ridge Road Willoughby, Ohio. Financial Recovery Plan 1/25/12

Willoughby-Eastlake City Schools 3707 Ridge Road Willoughby, Ohio. Financial Recovery Plan 1/25/12 1 Willoughby-Eastlake City Schools Willoughby-Eastlake City Schools 3707 Ridge Road Willoughby, Ohio 1/25/12 2 Willoughby-Eastlake City Schools CONTENTS Executive Summary Current Five-Year Forecast Objectives

More information

Administration of Arkansas Property Tax

Administration of Arkansas Property Tax FSPPC114 Administration of Arkansas Property Tax Property tax is an important source of revenue for local governments, including school districts and county and city governments. Revenue generated by the

More information

Components 127th General Assembly 128th General Assembly

Components 127th General Assembly 128th General Assembly League of Women Voters of Ohio Comparison of the Components of the Education Provisions of Am. Sub. HB 119 (127th General Assembly) and Am. Sub. HB 1 (128th General Assembly) Updated February 2010 Components

More information

Working Document Committee of the Whole March 25, 2014

Working Document Committee of the Whole March 25, 2014 Working Document Committee of the Whole March 25, 2014 Introduction The 5-Year Budget is a working document. It is frequently being fine-tuned to take more details into account and updated as assumptions

More information

Tax Levies Explained: Julie Joyce-Smith, Real Estate Manager, Butler County Auditor s Office April 8, 2015

Tax Levies Explained: Julie Joyce-Smith, Real Estate Manager, Butler County Auditor s Office April 8, 2015 Tax Levies Explained: Julie Joyce-Smith, Real Estate Manager, Butler County Auditor s Office April 8, 2015 Millage Types Unvoted Millage or Inside Millage: approved by Budget Commission and cannot exceed

More information

FY2003. By Jay F. May. Introduction

FY2003. By Jay F. May. Introduction UT D MA F AR F MD F HI FY2003 FY2007 FY2011 FY2003 FY2007 FY2011 F AZ D D D B C D DE Gra CA FY2003 FY2007 FY2011 FY2003 FY2007 FY2011 F F C F NM Minnesota B C B FL Gr CO CT ID IL FY2003 FY2007 FY2011 FY2003

More information

YOUR PROPERTY TAXES. understanding property tax. assessments. appeal process. property taxes and schools. frequently asked questions.

YOUR PROPERTY TAXES. understanding property tax. assessments. appeal process. property taxes and schools. frequently asked questions. 2006 YOUR PROPERTY TAXES understanding property tax assessments appeal process property taxes and schools frequently asked questions relief programs legislation South Dakota Department of Revenue & Regulation

More information

As the discussion about school funding and tax reform

As the discussion about school funding and tax reform acloserlook Referendum: It s Not Tax Reform As the discussion about school funding and tax reform continues in the General Assembly, one issue that is being mentioned as part of the solution is a referendum

More information

IMPACT AND ANALYSIS OF ACT 50

IMPACT AND ANALYSIS OF ACT 50 IMPACT AND ANALYSIS OF ACT 50 A report by William T. Hartman Pennsylvania State University September 2007 This research was sponsored by a grant from the Center for Rural Pennsylvania, a legislative agency

More information

To inspire every student to think, to learn, to achieve, to care

To inspire every student to think, to learn, to achieve, to care Our Mission To inspire every student to think, to learn, to achieve, to care MESSAGE FROM OUR SUPERINTENDENT Our Dedication to Excellence Harry Bull, Jr., Ed.D. We are dedicated to excellence every day.

More information

Falls Church City Public Schools Extended Day Care Program

Falls Church City Public Schools Extended Day Care Program Falls Church City Public Schools Extended Day Care Program (703) 248-5682 To: FCCPS School Board From: Bobby Kaplow Re: Ext. Day Care Business Plan Date: November 8, 2006 For quite some time Hunter Kimble,

More information

Are Missoula s Property Taxes High?

Are Missoula s Property Taxes High? Are Missoula s Property Taxes High? Page 1 Are Missoula s Property Taxes High? A Report to the Missoula Organization of REALTORS Douglas J Young Professor Emeritus Montana State University Bozeman djyoung@montana.edu

More information

{Governmental Client Training} June 10, 2015

{Governmental Client Training} June 10, 2015 {Governmental Client Training} June 10, 2015 Legislative Update NICOLETTE ACHO & KARI SHEA 77 OVERVIEW 1. Legislation that has already passed A. Major and Local Street Funds Performance Audits B. Personal

More information

Center on Regional Politics

Center on Regional Politics The Story of the Local Share Issue Memo Number 3 May 2014 Issue Memos are prepared under direction of the (CORP) staff to summarize public policy problems deemed important by the center s Executive Committee

More information

PROPOSED AMENDMENT TO ADD SECTION 5.1 TO ARTICLE XIII OF THE ILLINOIS CONSTITUTION

PROPOSED AMENDMENT TO ADD SECTION 5.1 TO ARTICLE XIII OF THE ILLINOIS CONSTITUTION PROPOSED AMENDMENT TO ADD SECTION 5.1 TO ARTICLE XIII OF THE ILLINOIS CONSTITUTION That will be submitted to the voters November 6, 2012. This pamphlet includes the proposed amendment; explanation of the

More information

Operations Update (Referendum, Count Day, CSR & Budget)

Operations Update (Referendum, Count Day, CSR & Budget) Operations Update (Referendum, Count Day, CSR & Budget) Mike Burke, COO Administrators & Supervisors Meeting September 9, 2014 Referendum Update YOU DECIDE www.palmbeachschools.org For informational purposes

More information

The Homestead Option Sales Tax: Lessons Learned from DeKalb and Rockdale Counties

The Homestead Option Sales Tax: Lessons Learned from DeKalb and Rockdale Counties NOVEMBER 17, 2015 The Homestead Option Sales Tax: Lessons Learned from DeKalb and Rockdale Counties Mels de Zeeuw Laura Wheeler ACKNOWLEDGMENTS The authors would like to thank the following individuals

More information

The cost and complex logistics of the proposal were not discussed by the Commission.

The cost and complex logistics of the proposal were not discussed by the Commission. Remarks to the Tompkins County Legislature, January 21, 2014 NYS Tax Relief Report Overview and an Alternative Strategy On December 10, 2013 a New York State Tax Relief Commission created by the Governor

More information

Property Tax Real. hio. Taxpayer The tax is paid by all real property owners unless specifically exempt.

Property Tax Real. hio. Taxpayer The tax is paid by all real property owners unless specifically exempt. 108 Property Tax Real Taxpayer The tax is paid by all real property owners unless specifically exempt. Tax Base The tax is based on the assessed value of land and buildings. Assessed value is 35 percent

More information

S earching. Tax Relief. for Property. As New York considers a property tax cap, many wonder what it would mean for the state s schools

S earching. Tax Relief. for Property. As New York considers a property tax cap, many wonder what it would mean for the state s schools E ducation leaders across the state understand the need for property tax relief. However, many are concerned that if a property tax cap is enacted in New York as the Governor and many lawmakers have proposed

More information

Oklahoma Ad Valorem. 1 of 14. Central Valuation by Oklahoma Tax Commission: All Public Service Corporations (multiple county impact)

Oklahoma Ad Valorem. 1 of 14. Central Valuation by Oklahoma Tax Commission: All Public Service Corporations (multiple county impact) Oklahoma Ad Valorem - Founded Before Statehood And Codified in the 1907 Populist Constitution And Current Laws - Township Assessors in 1894 - County Assessor System Set Up in 1911 - Tax Commission Oversight

More information

Q&A: Centennial ISD 12 Referendum

Q&A: Centennial ISD 12 Referendum Q: What are the ballot questions? A: There are three questions. Q&A: Centennial ISD 12 Referendum General Questions SCHOOL DISTRICT BALLOT QUESTION 1 RENEWAL OF SCHOOL DISTRICT EXPIRING REFERENDUM REVENUE

More information

City of Missoula Debt Management. Major Bond Issues. Outstanding Debt DEBT MANAGEMENT. City of Missoula FY 2015 Annual Budget Page I - 1

City of Missoula Debt Management. Major Bond Issues. Outstanding Debt DEBT MANAGEMENT. City of Missoula FY 2015 Annual Budget Page I - 1 City of Missoula Debt Management Debt in a governmental entity is an effective financial management tool. Active debt management provides fiscal advantages to the City of Missoula and its citizens. Debt

More information

Property Tax Relief 2011: Who Wins? Who Loses?

Property Tax Relief 2011: Who Wins? Who Loses? Property Tax Relief 2011: Who Wins? Who Loses? 2011 Florida League of Cities Annual Conference August, 12, 2011 Alan Johansen 2011 Legislature Passed HJR 381 Amendment 4 on 2012 Ballot - Grants selective

More information

Informational Issue: School Finance Funding Case Studies

Informational Issue: School Finance Funding Case Studies Informational Issue: School Finance Case Studies The school finance formula directs the distribution of total program funding to Colorado school districts based on factors designed to recognize the characteristics

More information

STATE OF MICHIGAN. Bond Qualification Process Overview. School Bond Qualification and Loan Program Bureau of Bond Finance

STATE OF MICHIGAN. Bond Qualification Process Overview. School Bond Qualification and Loan Program Bureau of Bond Finance Michigan Department of Treasury 3160, (Rev. 4-06) STATE OF MICHIGAN Bond Qualification Process Overview School Bond Qualification and Loan Program Bureau of Bond Finance Michigan Department of Treasury

More information

HILLSBOROUGH COUNTY SCHOOLS, FLORIDA

HILLSBOROUGH COUNTY SCHOOLS, FLORIDA HILLSBOROUGH COUNTY SCHOOLS, FLORIDA Summary of Statistical Data - Ten Year History, 1998 Cap. Improvement Average Number of Number of F.T.E. Expenditure School Year Schools Instructors Enrollment per

More information

2012 Legislation Affecting School Capital Finance, School Facilities, and Property Taxes

2012 Legislation Affecting School Capital Finance, School Facilities, and Property Taxes 2012 Legislation Affecting School Capital Finance, School Facilities, and Property Taxes AASBO 59 th Annual Conference & Exposition July 20, 2012 Prepared by: Judy Richardson Randie Stein Vice President

More information

Capital Override Election - Frequently Asked Questions

Capital Override Election - Frequently Asked Questions Attachment L Capital Override Election - Frequently Asked Questions 1. What is a capital override? A capital override is a special election requesting voter approval for a secondary tax levy to pay for

More information

Funding Pennsylvania Public Schools

Funding Pennsylvania Public Schools Funding Pennsylvania Public Schools TM 1 Introduction A recent study by the Pennsylvania School Boards Association determined that many citizens do not understand how Pennsylvania s public schools are

More information

Alberta's Fiscal Situation: Identifying the Problem, Looking for Solutions

Alberta's Fiscal Situation: Identifying the Problem, Looking for Solutions Number 14/April 1993 Alberta's Fiscal Situation: Identifying the Problem, Looking for Solutions Melville McMillan and Allan Warrack* University of Alberta Faculty of Business Edmonton, Alberta * Without

More information

FIREFIGHTER s PROPOSED BILL PINELLAS COUNTY STAFF ANALYSIS

FIREFIGHTER s PROPOSED BILL PINELLAS COUNTY STAFF ANALYSIS FIREFIGHTER s PROPOSED BILL PINELLAS COUNTY STAFF ANALYSIS BILL #: TBD Proposal to consolidate existing ALS services with fire based medical transport and equalize funding among EMS Providers SPONSOR(S):

More information

Debt Affordability Study

Debt Affordability Study Texas Bond Review Board Debt Affordability Study This study provides data on the state s historical, Current, and projected debt positions and develops financial data from which policymakers can review

More information

An overview of Colorado s state and local tax structures. Daphne Greenwood and Tom Brown

An overview of Colorado s state and local tax structures. Daphne Greenwood and Tom Brown An overview of Colorado s state and local tax structures Daphne Greenwood and Tom Brown Colorado has a highly decentralized revenue-raising structure compared to many other states. Although combined state

More information

Most New Yorkers do not want tax relief to come at the expense of their public schools.

Most New Yorkers do not want tax relief to come at the expense of their public schools. Published October 2011 In this first year of New York s property tax cap, details about its provisions and implementation continue to evolve. This publication answers some questions that parents, taxpayers

More information

Berrien County Michigan

Berrien County Michigan Berrien County Michigan August 2, 2016 OFFICIAL Proposal List STATE PROPOSAL SECTION NONE COUNTY PROPOSAL SECTION COUNTY LAW ENFORCEMENT AND PUBLIC SAFETY MILLAGE RENEWAL In support of law enforcement,

More information

BUCKEYE VALLEY LOCAL SCHOOLS, DELAWARE COUNTY NOTES/ASSUMPTIONS TO FIVE-YEAR FORECAST FOR APPROVAL MAY 13, 2014

BUCKEYE VALLEY LOCAL SCHOOLS, DELAWARE COUNTY NOTES/ASSUMPTIONS TO FIVE-YEAR FORECAST FOR APPROVAL MAY 13, 2014 May 13, 2014 The following assumptions were used in projecting revenue and expenditures for Fiscal Year 2014 through 2018. This is the district s best estimates at this point in time. This forecast is

More information

GENERAL FUND AND PUBLIC SAFETY FUND PROJECTION

GENERAL FUND AND PUBLIC SAFETY FUND PROJECTION 2015 Charter Township of West Bloomfield Finance Department GENERAL FUND AND PUBLIC SAFETY FUND PROJECTION Fiscal Years Ended December 31, 2015 through 2024 Contents Finance Director s Report 3 Historical

More information

Local Government Expenditure and Revenue Limits

Local Government Expenditure and Revenue Limits Local Government Expenditure and Revenue Limits Prepared by Russ Kava and Rick Olin Wisconsin Legislative Fiscal Bureau One East Main, Suite 301 Madison, WI 53703 Local Government Expenditure and Revenue

More information

City of San Diego General Fund Reserve Benchmark and Review

City of San Diego General Fund Reserve Benchmark and Review OFFICE OF THE INDEPENDENT BUDGET ANALYST REPORT Date Issued: September 20, 2012 IBA Report Number: 12-37 Budget and Finance Committee Date: September 26, 2012 Item Number: 5 City of San Diego General Fund

More information

Tipp City Exempted Village Schools. Miami County

Tipp City Exempted Village Schools. Miami County Tipp City Exempted Village Schools Miami County Assumptions for Five-Year Financial Forecast Projected Fiscal years July 1, 2014 through June 30, 2019 Forecast provided by: Tipp City Exempted Village School

More information

School Finance How Does it Work???

School Finance How Does it Work??? School Finance How Does it Work??? March 3, 2016 Leanne Emm, Associate Commissioner Emm_l@cde.state.co.us 303-866-6202 School Finance Total Program Funding 2 1 Total Program Funding The vast majority of

More information

Forecast Scenarios MULTI-YEAR REVENUE AND EXPENDITURE PROJECTIONS. Five-Year Financial Plan

Forecast Scenarios MULTI-YEAR REVENUE AND EXPENDITURE PROJECTIONS. Five-Year Financial Plan MULTI-YEAR REVENUE AND EXPENDITURE PROJECTIONS Five-Year Financial Plan The City is in the process of developing a multi-year plan for financial sustainability to identify future expenditure needs and

More information

Understanding Washington s Property Tax. Dean Carlson, Ways and Means Staff

Understanding Washington s Property Tax. Dean Carlson, Ways and Means Staff Understanding Washington s Property Tax Dean Carlson, Ways and Means Staff Constitutional Requirements All taxes on real estate must be uniform within a taxing district. Tax uniformity requires both an

More information

TEMPORARY TAXES TO FUND EDUCATION. GUARANTEED LOCAL PUBLIC SAFETY FUNDING. INITIATIVE CONSTITUTIONAL AMENDMENT.

TEMPORARY TAXES TO FUND EDUCATION. GUARANTEED LOCAL PUBLIC SAFETY FUNDING. INITIATIVE CONSTITUTIONAL AMENDMENT. PROPOSITION 30 30 TEMPORARY TAXES TO FUND EDUCATION. OFFICIAL TITLE AND SUMMARY PREPARED BY THE ATTORNEY GENERAL TEMPORARY TAXES TO FUND EDUCATION. Increases personal income tax on annual earnings over

More information

Testimony on the FY2005 Tax Measures

Testimony on the FY2005 Tax Measures Testimony on the FY2005 Tax Measures Presented By Joyce Wilkerson Chief of Staff City of Philadelphia Before City Council s Committee of the Whole May 10, 2004 Good morning, President Verna and members

More information

STRATEGIC FINANCIAL PLAN 2007 to 2010

STRATEGIC FINANCIAL PLAN 2007 to 2010 STRATEGIC FINANCIAL PLAN 2007 to 2010 January 2008 Table of Contents 1.0 Introduction Page 3 2.0 Linkage Long Term Financial Planning and the City s Community Strategic Plan Page 4 3.0 Why is Long Term

More information

WICKLIFFE BOARD OF EDUCATION 5-Year Financial Plan (SM-7) Assumptions: Fiscal Year 15 January 12, 2015

WICKLIFFE BOARD OF EDUCATION 5-Year Financial Plan (SM-7) Assumptions: Fiscal Year 15 January 12, 2015 Exhibit 11 WICKLIFFE BOARD OF EDUCATION 5-Year Financial Plan (SM-7) Assumptions: Fiscal Year 15 January 12, 2015 The Ohio General Assembly enacted House Bill 412 requiring public school systems annually

More information

Financing Education In Minnesota 2013-14. A Publication of the Minnesota House of Representatives Fiscal Analysis Department

Financing Education In Minnesota 2013-14. A Publication of the Minnesota House of Representatives Fiscal Analysis Department Financing Education In Minnesota 2013-14 A Publication of the Minnesota House of Representatives Fiscal Analysis Department November 2013 Financing Education in Minnesota 2013-14 A Publication of the Minnesota

More information

2005 SCHOOL FINANCE LEGISLATION Funding and Distribution

2005 SCHOOL FINANCE LEGISLATION Funding and Distribution 2005 SCHOOL FINANCE LEGISLATION Funding and Distribution RESEARCH REPORT # 3-05 Legislative Revenue Office State Capitol Building 900 Court Street NE, H-197 Salem, Oregon 97301 (503) 986-1266 http://www.leg.state.or.us/comm/lro/home.htm

More information

1. Modernizing Ohio Classrooms and Curriculum

1. Modernizing Ohio Classrooms and Curriculum Reforming Ohio s Education System for the Modern Economy Outline of Governor Ted Strickland s Education Reform and Funding Plan, as Included in the FY 2010-2011 Biennial Budget Components of Governor Strickland

More information

P O L I C Y B R I E F THE MISSOURI K-12 FOUNDATION FORMULA

P O L I C Y B R I E F THE MISSOURI K-12 FOUNDATION FORMULA P O L I C Y B R I E F THE MISSOURI K-12 FOUNDATION FORMULA EXECUTIVE SUMMARY The Missouri legislature designed the K-12 funding formula to ensure every school district in the state receives a basic funding

More information

2014 Tentative Budget. Curt Crandall Chairman, Allegany County Board of Legislators November 7, 2013

2014 Tentative Budget. Curt Crandall Chairman, Allegany County Board of Legislators November 7, 2013 2014 Tentative Budget Curt Crandall Chairman, Allegany County Board of Legislators November 7, 2013 1 2014 Budget Process January 23, 2013, the Chairman of the Board and the Chairman of the Budget Committee

More information

Special Taxing Districts The Tax Process The term "taxing district" for the purposes of this section shall mean any political subdivision, municipal corporation, district, or other governmental agency

More information

AN OVERVIEW OF ARKANSAS TAX INCREMENT FINANCING DISTRICT LAW. Tax increment financing districts, otherwise known as "redevelopment" or "TIF"

AN OVERVIEW OF ARKANSAS TAX INCREMENT FINANCING DISTRICT LAW. Tax increment financing districts, otherwise known as redevelopment or TIF AN OVERVIEW OF ARKANSAS TAX INCREMENT FINANCING DISTRICT LAW Tax increment financing districts, otherwise known as "redevelopment" or "TIF" districts, are used in many states as an economic development

More information

School & Local Public Safety Protection Act of 2012 Governor's Initiative. Our Children, Our Future 2012: The Education Initiative Molly Munger / PTA

School & Local Public Safety Protection Act of 2012 Governor's Initiative. Our Children, Our Future 2012: The Education Initiative Molly Munger / PTA What does the initiative do? School & Local Public Safety Protection Act of 2012 Governor's Would increase income tax rates on personal incomes in excess of a quarter million dollars per year, and increase

More information

SCHOOL FINANCE IN COLORADO

SCHOOL FINANCE IN COLORADO SCHOOL FINANCE IN COLORADO Prepared by: Legislative Council Staff State Capitol Building, Room 029 200 East Colfax Avenue Denver, CO 80203 Phone: (303) 866-3521 April 2015 FOREWORD The purpose of this

More information