Members of the Akron Board of Education are due to decide on the rate of a pair of proposed levies at a meeting April 11, after further discussing their options at a meeting Monday.

The request for tax increases would pay for the construction of a new North High School as well as help cover operating expenses for the district. 

The North High School levy, if approved, would pay off an $85 million bond for construction over 35 years. It would cost $45.50 each year for the owner of a home with an appraised value of $100,000. It would bring in $4.4 million annually.

The operating levy could collect anywhere from $18.9 million to $25.7 million each year, depending on the tax rate board members eventually approve. At the low end, it would cost $196 a year for the owner of a home with an appraised value of $100,000; at the high end, the annual cost for the same house would be $266.

Together, the annual cost for homeowners would be anywhere from $241.50 to $311.50 for someone with a $100,000 home, depending on which option the board chooses.

Steve Thompson, the district’s chief financial officer and treasurer, said it has been more than a decade since the board asked voters to approve a levy. He said there’s no way the district can operate without both raising revenue and cutting more than $15 million in spending next year.

“That’s a trainwreck waiting to happen if we don’t take action,” he told the board.

Thompson told board members that most recent levies in Northeast Ohio have failed. The recommendation board members will make about what rate to approve “is a very difficult decision,” he said.

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“It’s really anybody’s guess on the mood, the vibe, the understanding of the community,” he said.

Board members asked questions about what community support might look like and what cuts might be necessary. 

“Whether we debate more next time or come in and know what we want, that’s the board’s pleasure,” Thompson said.

How to calculate annual millage:
A mill is $1 of tax for every $1,000 of assessed value (35% of your appraised value). For example, the tax on a house that is appraised at $100,000 is $35 in tax per mill.

Example calculation of a simple tax bill:
$100,000 (appraised value) x 35% (.35) = $35,000 (assessed value)
$35,000 (assessed value) x 1 mill (.0010)  =  $35 in tax per mill
(Source: Ohio Department of Taxation)

Economics of Akron Reporter (she/her)
Arielle is a Northeast Ohio native with more than 20 years of reporting experience in Cleveland, Atlanta and Detroit. She joined Signal Akron as its founding education reporter, where she covered Akron Public Schools and the University of Akron.
As the economics of Akron reporter, Arielle will cover topics including housing, economic development and job availability. Through her reporting, she aims to help Akron residents understand the economic issues that are affecting their ability to live full lives in the city, and highlight information that can help residents make decisions. Arielle values diverse voices in her reporting and seeks to write about under-covered issues and groups.