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Mentor school leaders recommend 4.9-mill levy as $2 million annual cuts and earned-income tax option spar over timing and impact
Summary
District finance staff presented a five-year forecast showing a looming shortfall and recommended a 4.9-mill property levy (or an equivalent 0.75% earned-income tax), while outlining $2 million in recurring cuts and deeper "doomsday" reductions if voters reject levies. Board members discussed timing, municipal concerns and next steps for a January decision.
District finance staff told the Mentor Exempted Village Board of Education on Dec. 15 that the district’s current October forecast, revised since a county homestead "piggyback" change, leaves the district facing material shortfalls unless the board approves new revenue or sustained cuts.
The finance presenter reviewed the revenue mix and five-year outlook, saying the county’s decision to piggyback the homestead/owner-occupancy credit reduces district revenue by about $1.1 million this year and could cost roughly $2.2 million annually if repeated. “My recommendation is going to be 4.9,” the presenter said, recommending a traditional property tax levy as the more predictable option.
Why it matters: staff showed a scenario in which a proposed new levy that would raise roughly $6.8 million a year would still leave a first-year partial shortfall but stabilize finances in later years; absent new revenue the district could be at or below its policy floor by fiscal 2027 with a risk of negative cash in later years. Trustees were urged to pursue…
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