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Understanding school levies. Funds generated from school tax levies compose a significant part of financing for Ohio schools. This fact sheet is designed to address the most frequently asked questions about school tax issues in Ohio. The information is of a general nature.
A local property tax passed by voters of a school district that generates revenue for the local school district. All money generated by school district levies goes directly to the school district to pay for enhancements to the state-funded basic education.
26 paź 2022 · How do school bonds work? Likened to a home mortgage, a voter-approved school bond allows a school district to borrow funds. The Board of Trustees authorizes bond elections, and State law grants the Board the authority to sell bonds.
A Levy is a local property tax passed by the voters of a school district that generates revenue to fund programs and services that the state does not pay for as part of “basic education.” Because
27 maj 2015 · A rate of 10 mills means that $10 in tax is levied on every $1,000 in assessed value. A school district typically will set the millage rate each spring as it calculates what it needs to fund its final budget. Some years, the rate stays the same; other years, there’s an increase.
UNDERSTANDING SCHOOL LEVIES. How are school districts financed? Ohio school districts are financed with a combination of state, local and federal funds. At the state level, school districts receive funding from the Ohio Department of Education’s (ODE) general revenue funds and Ohio Lottery profits.
