Taxes

Kib / Openclipart

Miami Valley voters will decide on a slew of tax levies for schools Tuesday. Across the Miami Valley, opponents of levies, especially new or additional ones, are saying they can’t take on extra property taxes. On the flip side, many school districts say they’ll have to cut programs, limit busing, or lay off staff to make slimmed-down budgets work. Read about some of the issues here.

MyTudut / Flickr

A new tax hurts a lot more than a tax you’re already paying—at least, that’s what Ohio voters seem to think.

In many parts of Ohio, the November 5, 2013 is all about levies to fund school districts, and passing new levies in “off” election years is an uphill battle.

WYSO/Lewis Wallace

Six Montgomery County school districts have new tax levies on the ballot this November, some for the third, fourth or fifth time. But many homeowners oppose any new taxes, citing losses in property values and the overall post-recession fiscal squeeze among reasons to vote against new levies.

Flickr/neighborhoods.org

 As we move towards election day Nov. 5, the Beavercreek City School District is among those pleading with voters for new levy funding. The district has had four recent levies defeated at the ballot box, and is now returning with a fifth, reduced levy of 6.3 mills. The emergency levy would cost property owners about $18 a month per $100,000 of appraised property value.

Republican lawmakers in the Ohio legislature are sponsoring a bill that they say would simplify municipal tax structures throughout the state. Representative Cheryl Grossman says this bill is necessary because local taxes are too complicated.

WYSO/Lewis Wallace

A story in Bloomberg earlier this week found that hedge fund Magnetar has bought up a significant chunk of the rental stock in Montgomery County’s Huber Heights—and then requested a major reduction in those properties’ values. That reduction, if approved, could affect the city’s taxes and levies.

One of the Republican Senators who voted to allow the state to accept two and a half billion federal dollars for Medicaid expansion has introduced a bill to give Ohioans a tax break. The legislation is designed to capture savings in state government and give that money back to Ohio taxpayers.

Openclipart/Kib

School levies are among the biggest issues on the ballot in the upcoming November 5, 2013 election. Ohio schools depend on these levies as an essential funding stream, and many are facing new or additional levies that can be difficult to pass.

Money for Ohio’s public schools comes from three sources: federal funds, state funds, and local tax levies.

“Levies then become the source really of their chief operating funds,” explains Mark Smith of Cedarville University. “For most cases those local schools are very dependent upon those local property taxes.”

Two big changes are coming to taxes in Ohio this weekend – the state sales tax goes up, and the state’s personal income tax goes down.

The income tax for individuals will drop by 8.5%, while the state sales tax increases from 5.5% to 5.75%.
Tax Commissioner Joe Testa says most people won’t notice the sales tax increase unless they’re making major taxable purchases, such as buying cars. But he says even then it’s more than a wash.

Tax Revenues End Above Estimates

Jul 15, 2013

Ohio’s economic recovery is showing up in the figures on tax revenue that state government is taking in. The final money tally from state budget year that just ended has Ohio up three percent compared to original estimates.

The newly released final numbers from the budget year which ended June 30 show the state getting more money than predicted, $670 million more over the past year to be exact.

That figure is about three percent more than original estimates.

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