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Board legislative liaison warns property-tax ballot could quickly reduce school funding, affect bond security
Summary
At the meeting the board's legislative liaison summarized outreach around a potential property-tax measure and related voucher proposals, warning that passage could rapidly reduce district revenues and weaken bond security tied to inside millage. The liaison cited a statewide figure of roughly $22.3 billion in outstanding general-obligation bonds supported by inside millage dollars.
During the legislative report at the April meeting, the board's legislative liaison briefed trustees on recent mailings and coalition activity around a possible property-tax measure and related voucher policies. The liaison said materials from groups including OSBA and OASBO are circulating and urged trustees to respond "very factually" to public questions about potential impacts.
"If things move forward and we experience a change after November, it's going to be very quick and it's going to be very impactful on our services," the legislative liaison said, warning that a successful ballot measure reducing or eliminating property-tax revenue would quickly change local revenue availability.
The liaison flagged bond security as a key concern, saying that inside millage dollars are part of the collateral relied on for school district bond ratings. He cited an estimated $22.3 billion in outstanding general-obligation debt across Ohio that is tied to those millage dollars and said any substantial reduction in inside millage could affect districts statewide.
Trustees did not take action on the legislative questions at the meeting; the report was presented for information and to encourage factual public messaging. The superintendent and OSBA representative also encouraged trustees to monitor OSBA offerings and regional events where districts can get updates and guidance on education finance and upcoming legislative changes.
