Willoughby-Eastlake Schools….they are back for more…updated

Meet Steve Thompson, Superintendent of Willoughby-Eastlake School  Superintendent…..He is back for more of your hard earned money…..seems that they have an insatiable appetite for spending your money.

Just when the W-E taxpayers thought that they were out of free and clear of more property tax levies Mr. Thompson and his Board want to have a special election on August 6, 2019.  Why would they want a special election, and what will it cost the taxpayers?

  1. The cost to the school district is estimated to be $67,595.98, with $43,937.39 paid in advance. [Thanks to a Willougbhy-Eastlake lobbyist for this correction: This payment of $67,595.98 is, in reality, an additional tax paid by the taxpayers.]
    WE Special Election 8-19
    Memo Special Election Cost Estimation Form 2019 – Willoughby-Eastlake CSD
  2. How many people do you think will vote in a “special election”.  People are on vacation in August, and the voter turnout will be very low….in our opinion, all part of the plan

Here’s the ballot language for Willoughby-Eastlake City School District’s August 6, 2019, Special Election:

Issue 1

PROPOSED TAX LEVY (ADDITIONAL)

WILLOUGHBY-EASTLAKE CITY SCHOOL DISTRICT

A majority affirmative vote is necessary for passage.

An additional tax for the benefit of the Willoughby-Eastlake City School District for the purpose of current expenses at a rate not exceeding 4.99 mills for each one dollar of valuation, which amounts to 49.9 cents for each one hundred dollars of valuation, for a continuing period of time, commencing in 2019, first due in calendar year 2020.

FOR THE TAX LEVY

AGAINST THE TAX LEVY

(LFC Comment:  4.99 mills = $174.65 per year per $100,000 of home valuation.  ($35.00 x 4.99) [another way to calculate it: $100,000 home valuation x 35% = $35,000  (assessed value) x 4.99 mills = $174,650 / 1,000 = $174.65)

When you consider the Housing Affordability Factor the cost per $100,000 of home valuation is  $502.16 ($174.65 / .30).  That means you will need to earn an additional $502.16 in annual income per $100,000 of home valuation in order not to move closer to pricing yourself out of your home.  If you live in a $300,000 home, you will need to multiply those numbers by a factor of 3.

Remember your HAT % = [mortgage, + utilities + property tax] / annual income
If that % is 30% or more, then your house is deemed unaffordable for you.)



Categories: Lake County, Lake County Cities & Townships, Uncategorized, Willoughby

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