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Treasurer warns new state tax laws could cut district revenue; board approves forecast submission
Summary
Treasurer presented the district forecast and warned that recent state House bills change the 20-mill floor rules and cap growth tied to inflation, creating uncertainty and an estimated $700,000 hit next fiscal year; the board voted to submit the forecast and update it in May.
Treasurer (speaker 4) presented the district forecast and warned that several recently signed state laws will alter how property-tax growth is calculated and timed, creating near-term uncertainty in local school funding.
Explaining the changes, the treasurer said emergency levies and other items previously excluded from the 20-mill floor are now included, and that new caps tie growth to inflation or GDP instead of allowing full reappraisal-driven increases. He described a "look back" provision for counties that completed reappraisals in 2023-24 that could require rebates or credits to taxpayers, and said the Ohio Department of Education has agreed to absorb some of the loss for 2026-27 to soften immediate impacts. "We're gonna be spending more than we're bringing in," the treasurer said while showing revenue and expense projections and a forecast that assumes using cash reserves in later years.
The treasurer recommended filing the required forecast by the end of the month using best-available estimates and updating it in May when county and state guidance is clearer; the board approved submitting the forecast and agreed to reconvene on updates. The treasurer said district leadership should prepare for longer-term choices, including the possibility of an emergency-levy renewal in 2028 if revenues remain constrained.
