We have confirmed that the Willoughby-Eastlake school district has indeed requested a 4.99 mill property tax levy on the August ballot in a 2019 special election. We asked the Lake County Board of Elections how much will this cost the taxpayers in that school district.
Here is their response:
The Board of Elections can confirm that we are in receipt of the Willoughby-Eastlake City School District filing, calling for the August 6th Special Election. Our Board has not certified the issue to the ballot, but I will recommend certification based on their filing documents.
There are 49 precincts in the district.
All Boards of Elections in Ohio were recently instructed to calculate a per precinct cost estimate for conducting special elections. Our estimate came to $1,379.51 per precinct.
As of this email, they are the only political subdivision to file for the August Special Election. The filing deadline is May 8th at 4:00 p.m.
Let’s do the math:
Cost to hold the special election: 49 precincts x $1,379.51 = $67,595.99 total cost to the taxpayers for this special election.
Cost to the taxpayers for the 4.99 mills: 4.99 x $35.00 = $174.65 per year per $100,000 of home valuation. [You will need to earn $582.16 so that your HAT% is not impacted ( $174.65 / ,3)]
If your home valuation is $200,000 = $349.30 per year / $29.11 per month / Need to earn $1,164.33 additional per year
If your home valuation is $300,000 = $523.95 per year / $43.66 per month / Need to earn $1,746.50 additional per year
If your home valuation is $400,000 = $698.60 per year / $58.22 per month / Need to earn $2,328.66 additional per year
If your home valuation is $500,000 = $873.25 per year / $72.77 per month / Need to earn $2,910.83 additional per year
Home ownership is just an illusion!