Thanks to Lobbyist Kim for the “heads up” on a proposed Wickliffe school board property tax increase.

http://www.news-herald.com/general-news/20180630/wickliffe-school-board-reconsiders-options-for-future-building-needs?source=most_viewed

We need to get the word out to our friends in Wickliffe.  The proposal is for 6.49 mill increase. Remember our calculations on what this will cost the average taxpayer:

6.49 mills x $35.00 for every $100,000 of home valuation = $227.15 per year.  If you home is worth $200,000 your out of pocket cost is $454.30, a $300,000 home value means you will pay $681.45.

However, remember your HAT%!  To determine how much you need in additional annual income to ensure that you are not reaching 30% of your annual income for mortgage, utilities, and property taxes you will need an extra $757.16 ($227.15 / .30) for a $100,000 home value, $1,514.33 for $200,000 home value and $2,271.50 for a $300,000 home value.

In 2017, Wickliffe had the most revenue per student ($16,825.83 per student), have a declining enrollment, and earned a “D” grade in the State of Ohio Achievement test. —– and they want to charge taxpayers more money for  what – building renovations?

Per the article:
“The $28,020,000 from the permanent improvement levy revenue and the existing $11,980,000 will cover the $40 million needed for the project.

However (Finance Committee Member) Mary Ann Sason said “$40 million will not be enough for extras such as an auditorium and track and field house”.

When I keep reading about the school superintendent’s plans of grandeur, I say to the residents of Wickliffe: Beware – they are pricing you out of your homes, not increasing the values of your home.  They are already spending more money than any other school district in Lake County.

We welcome the opportunity to speak to any Wickliffe group that is interested in real estate taxes.

Categories: Education, Real Estate Taxes, Wickliffe

Tags: FT