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Buckeye Valley warns of multi‑million dollar shortfall after state property‑tax changes
Summary
District officials told the board the state’s recent property‑tax reform will reduce local revenue by an estimated $5.0 million in fiscal 2027 and another $3.35 million in 2028, pushing the district’s five‑year forecast into a larger projected deficit and prompting the board to adopt the forecast as presented.
Buckeye Valley Local School District officials told the board on Tuesday that state property‑tax changes will significantly reduce district revenue over the next two fiscal years and beyond.
"We anticipate that we will lose $5,000,000 next year in fiscal year 2027," Speaker 2 said during a presentation on the district’s five‑year forecast, adding an additional projected loss of about $3,350,000 in fiscal 2028. The board reviewed a forecast that shifted the district’s five‑year ending reserve from a prior projection of a negative $3.9 million to a revised negative $10.7 million under current assumptions.
Why it matters: Speaker 2 told board members the change flows from legislation that gives taxpayers credits related to recent reappraisals; the state has offered partial guarantees but not full mitigation. Because Buckeye Valley sits at a 20‑mill floor, the district received larger reappraisal gains previously and is therefore among those hit hardest when credits are returned to taxpayers, the presenter said.
The presentation walked members through expected revenue and expense patterns, emphasizing that about 80 percent of the district’s revenue is local property tax, with roughly 20 percent coming from state funding. Speaker 2 warned that while some statutory guarantees will blunt the first‑year impact, the long‑term effect could be a sustained reduction in locally available revenue.
Board action: After discussion, the board voted to approve the presented five‑year forecast and to upload the documents to the Ohio Department of Education and the district website. Speaker 1 called the motion and the board approved the forecast as presented.
What comes next: District leaders told the board they will continue to monitor legislative clarifications, county auditor and county budget commission actions, and the availability of any county piggyback exemptions. They also signaled outreach to the community to explain that the shortfall stems from state policy changes rather than local spending decisions.
