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Sylvania board hears reappraisal figures; treasurer says House Bill 920 will limit tax revenue growth
Summary
At the Jan. 27 Sylvania Board of Education meeting, district finance staff presented Lucas County reappraisal figures showing a 28.8% valuation increase and explained how Ohio's House Bill 920 limits increases in school tax collections to new construction and improvements, producing an estimated 2.95% rise in collections for the district.
Mr. Cole, a district finance staff member, told the Sylvania Board of Education on Jan. 27 that Lucas County’s recent reappraisal raised the district’s total taxable valuation by about 28.8% from 2023 to 2024.
"Overall, our total valuation from 23 to 24 did go up about 28.8%," Mr. Cole said, summarizing the county data and a district comparison of voted and effective rates.
The district presentation explained how House Bill 920 operates: as property values rise, effective tax rates fall so that shareholders of existing property generally pay the same dollar amount absent a new levy. Mr. Cole said that effect, combined with the distribution of millage between voted and inside mills, means the district expects only a modest increase in actual collections this year. "Because of that, I anticipate this fiscal year, to see about a 2.95% increase in our actual dollars collected," he said.
The presentation included several quantitative details: effective rates across general, bond and permanent improvement levies declined by roughly 9.25 mills overall; the bond portion moved from about 3.1 mills to about 2.3 mills; and a district comparison placed the district near the lower-middle for school tax per $100,000 of home value in Lucas County. Mr. Cole also noted that the apparent per-$100,000 school tax decreased by nearly $300 when comparing 2023 to 2024 figures, reflecting the valuation increase and HB 920 adjustments.
Board members asked clarifying questions about who sees increased tax bills. A board member asked why the tax per $100,000 decreased even though values rose; Mr. Cole reiterated that HB 920’s rate adjustments generally keep collections flat for existing property owners and that only new construction or newly sold property generate additional collections on the district’s inside millage.
Mr. Cole cautioned that the estimated 2.95% increase in collections depends on collection rates and delinquencies and represents an estimate, not a guarantee. He said new construction collections and voter-approved levies have different effects: "When a new rate is voted in, that new millage or that new effective rate only goes in for new construction and or new home sale purchases," he said.
The board did not take formal action on the presentation; members accepted the information as part of the finance update.
The board’s next scheduled discussion of district finances was not specified during the presentation.
