We continue to review the Lake County Auditor’s Schedule A’s of the various Lake County school districts.
Here is Riverside School District: RIVERSIDE SCHEDULE A 2018 – 2019
Here is Wickliffe City School District: WICKLIFFE SCHEDULE A 2018 – 2019
For those that missed a prior post here is the Willoughby-Eastlake School District:
WE SCHOOL DISTRICT SCHEDULE A
As a reminder, the inside millage is mandated by the State of Ohio and is not voted on by the taxpayers. All increases in property valuations will result in an automatic tax increase to the taxpayers and increased revenue to the schools without the taxpayer having a say in the matter because of the inside millage.
The Schedule A provides a great deal of information about the property tax base, the impact of House Bill 920, and the various levies that the school districts have been able to pass over the years.
There are three classes of property subject to property taxes:
Class I – Residential and Agricultural (any reduction to either group is offset by an increase to the other group)
Class II – Commercial and Industrial
Class III – Public Utility Tangible
The 100% valuation is the Auditor’s current value of all property. The reduced % of 96% – 97% is the Auditor’s estimated method of accounting for some taxes that are not paid on a timely basis.
The ‘Table of Reduction Factors’ is a product of H.B. 920 and reflects the reduction to the tax levy’s original gross millage rate due to inflation factors. (These calculations are done by the State of Ohio Tax Equalization Board and not the local Auditor’s office.)
The ‘Auditor’s Estimate of Tax Levy’ provides the detail of the property tax revenue for each levy and by property class.
Since we are discussing the inside millage, here is a brief summary of the revenue collected for the three school districts in this article:
School District 100% Valuation Total Inside Rev. Total Rev.
Wickliffe $279,221,190 $1,393,873 $15,337,386
Riverside $1,099,266,130 $5,065,418 $37,395,501
Willoughby-Eastlake $1,696,238,720 $7,816,268 $78,893,123
Both Riverside and Willoughby-Eastlake collect 4.8 mills for the inside millage, and Wickliffe collects 5.2 mills.
Remember 1.0 mill equals $35.00 per $100,000 of home valuation.
4.8 mills = $168.00 per $100,000 of home valuation. (4.8 x $35.00)
5.2 mills = $182.00 per $100,000 of home valuation. (5.2 x $35.00)
The amount of commercial and industrial class II property in the district has a significant impact on the total revenue collected for the schools. In the “bedroom communities” (those with little class II property) the homeowner bears the brunt of the school taxes.
School District 100% II Valuation Class II Inside Rev Total Class II Rev.
Wickliffe $62,919,380 $314,094 $4,121,845 Riverside $115,105,180 $530,405 $3,783,078 Willoughby-Eastlake $391,364,880 $1,803,409 $18,180,831
Wickliffe homeowners pay 66.7% of school taxes ($10,225,673 / $15,337,386)
Riverside homeowners (and farmers) pay 82.1% of school taxes ($30,708,792/$37,395,501)
Willoughby-Eastlake homeowners pay 67.7% of school taxes ($53,379,379 / $78,893,123)
Currently, most taxing districts are at 8.9 mills. Therefore, there is only 1.1 mills available under the current 10 mill limit. That 1.1 mills is available to be used ONLY by the Lake County Commissioners. They can increase it without a vote of the taxpayers.
The inside millage was reduced by the Commissioners when they were successful in getting the sales tax increased. If any political sub-division tries to get an increase in their inside millage, it would mean another political sub-division would have to reduce their inside millage.