Significantly, Bond Issue #24 will cost the homeowner of a $100,000 (Franklin County Auditor appraised value) home 22 cents per day — 16 cents daily for taxpayers over 65 (meeting income thresholds).
- The median home value (Franklin County Auditor appraised value) in Groveport Madison School District is $166,200. That would cost a homeowner 37 cents per day. For taxpayers over 65 (meeting income thresholds), the cost would be 31 cents per day.
These funds will generate enough money to build three new middle schools and a small addition to the high school.
Below, you will find a chart that will indicate, based on your home's auditor appraised value, how much your daily, weekly, monthly, or annual cost would be.
The chart below indicates what the cost would be for a taxpayer, 65 and older with a total household income less than $38,600, based on the home's auditor appraised value.
Source: Ohio Municipal Advisory Council
(1) Median Auditor Appraised Value for the District is $166,200 according to the US Census Bureau.
(2) In order to qualify for the credit, homeowner must be 65 or older and a total household income less than $38,600. This amount varies yearly, so it is recommended those who may qualify contact the County Auditor. If an individual qualifies, they receive a credit up to $26,200 reduction in their home value (not a reduction in millage rate).
Financing Opportunities
To secure state funding amounting to $71.4 million, which covers 53% of the total project cost, our school district must pass the bond issue within the next two election cycles. Failure to pass the bond issue within this timeframe will result in Groveport Madison Schools being responsible for the entire project cost of $134.8 million.