LFC Comments by Brian Massie, Executive Director
The Lake County Riverside School District voted 3 -2 to place a huge 5.37 mill property tax levy on the May 3, 2022 ballot to build another middle school and high school.
| “The Riverside Local Schools Board of Education voted to place a 5.37-mill Bond Levy on the May 3 ballot during its January 27 Board of Education meeting. If the bond levy is approved by voters, the District will construct a new 6-12 campus, consisting of a 6-8 Middle School, and a 9-12 High School, on the current Riverside Campus property.” |
Bond levies outside the 10 mill-mill limit are fixed sum levies similar to emergency levies, with the tax rate set annually to ensure revenue for debt service on outstanding bonds. They are not subject to the reduction factors of HB20.
Board Members that voted for the levy:
Lori Krenisky. Board President. Lori.Krenisky@Riversideschools.net
Belinda Grassi. Member. belinda.grassi@riversideschools.net
Jennifer Harden. Member. Jennifer.Harden@riversideschools.net
Board Members that did not vote for the levy:
Thomas Hach. Vice President. Thomas.Hach@riversideschools.net
Scott Fishel. Member. Scott.Fishel@RiversideSchools.net
We have prepared the following worksheet that provides the calculations that you can use to determine the additional monthly taxes, additional annual taxes, total new annual taxes and the % increase in your property taxes. There are two numbers that you will need from your current property tax bill recently sent to you by the Treasurer’s office to complete the calculations:
- Your home’s 100% appraised value
- Your current annual property taxes
If we can find a calculator for our website, we will create the calculator that will only require you to input the home’s appraised value and your current annual property taxes. If the form below does not make sense to you, please send an email to LobbyistsforCitizens@gmail.com, and we can send you an Excel spreadsheet where you only have to input the variable numbers.
The second worksheet is the Housing Affordability Threshold. It will help you determine if you have reached the “unaffordability threshold” of 30%. It is an easy calculation. You merely add the three factors and divide by your annual household income. If you reach 30% or greater, it does not mean that you have to move, but you will have less money to spend on your needs and wants.
The HAT % is what we have been trying to educate Northeast Ohio residents about since 2017. Our firm belief is that if we continue on the path of ever-increasing property taxes, we are going to price seniors and those living on fixed incomes out of their homes that they have worked all their lives to achieve.
However, now with the current state of our economy, and the rising inflation that is going to persist for the foreseeable future, it is not only seniors that will be squeezed out of their homes, the younger generations, including renters, are going to be approaching the 30% threshold.
In my opinion, the decision by the three female board members to place this levy on the ballot at this time is highly, highly questionable. My reasoning:
- Uncertainty in the economy due to Covid pandemic
- People losing their jobs because they refuse the vaccine
- Small businesses are closing because of lack of help and customers
- The economy’s supply chain is broken leading to shortages and increased prices
- Lake County just completed the Triennial Update and increased property values by an average of 17.3%
- Rising inflation rates that may be in the 10+% range, if we are not already there, causing increased food prices and other necessities
- Federal policies to eliminate fossil fuels is driving up gas prices and gasoline taxes by a Republican Governor adds to the problem.
- Federal policies to continue increasing the money supply, we are now at about $30 Trillion in debt, devalues everyone’s savings.
- All construction projects are costing more because of inflation and supply issues. Unless you have a fixed contract, which I doubt any contractor would give, the school is going to pay more than estimated.
- Lake County Commissioners are going to spend $100+ million on a new jail, and they do not know where they are going to get the money. There is 1.1 mills under the inside millage available to them without a vote of the people. I have been told that the 1.1 mills will pay for the entire cost of the new jail.
We ask that the proponents of the school levy, not use the worn out phrase: “Let’s do it for the children”. I say let’s not do it for the seniors and those on fixed incomes, and the younger generations that are worried about losing their jobs, and keeping the family finances in tact.
Ladies, what were you thinking????
In this example, the homeowner was at a 26.7% HAT [($6,000 + $6,000 + $8,000= $20,000) / $75,000], in order not to move closer to the 30% threshold the homeowner would have to earn an additional $2,111.79 per year. ($563.85 / .267)
If the income remains at $75,000 then the HAT % is 27.42%. And slowly, but surely, the homeowner is squeezed out of their home.
We hope this helps the voters in the Riverside School District.
Update 2/3/22 1:30 pm
The recent 2021 Triennial Update (2022 collection year) generated a $780,445 windfall for the Riverside School District. This amount was generated from the inside millage that does not require a vote of the taxpayers in the district.
Here is the detail Schedule A from the Auditor’s office for the tax year 2021, collection year 2022.
*****
Advertisement
*****
Categories: Education, Lake, Ohio Counties, Riverside S.D., Uncategorized