Fast Fact Friday


Fast Fact Friday:  “My mortgage went up. I thought last year’s levy wasn’t a tax increase. Why can’t you use that money to build new middle schools?”
 

We’ve been hearing statements and questions like this a lot on social media. The school levy that was passed in 2023 was a tax renewal levy. Simply, the portion of your taxes that the schools receive remains the same. 

For example, even if your taxes increased, your neighbor’s taxes may have decreased. That is why the total amount of money Groveport Madison Schools receives due to the passage of last year’s renewal levy remains the same.

If you notice an increase, it’s probably because the taxable value of your home went up due to Franklin County’s 2023 reappraisal. Here’s an explanation from the Franklin County Auditor’s website (https://franklincountyauditor.com/real-estate/appraisal):

“Ohio law requires the county auditor to update all property values countywide every three years to reflect recent changes in the marketplace. The 2023 reappraisal involves a visual exterior inspection of each property throughout Franklin County. Learn more by visiting: https://audr-kyhv.franklincountyohio.gov/

Here’s an excellent video explaining how the appraised value of your home affects your property taxes: https://youtu.be/MXRgQ9BnwHc?si=6BnIU_gcgN2idF1Z

It’s also important to remember that your mortgage includes payments for more than property taxes, and could have increased for other reasons.

There are 2.44 mills required for Bond Issue #38. The median home value in Groveport Madison School District is $166,000, which means $11.64 a month ($8.61 monthly for taxpayers over 65) can generate enough money to build three new middle schools and a small addition to the high school.

Remember, the bond issue on the ballot this November is only for building three new middle schools and adding to the high school. The money from this bond cannot be used for running our schools. Bonds are for building.

  
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