House: Passed out of House – April 22, 2021; Vote 60-33
Senate: Senate Ways & Means; has received two hearings (sponsor & proponent testimony)
Note: 99 school levies were on the ballot last November
3 of 3
H.B. 140 - Example of a 3.5 Renewal Levy
Current: “A renewal of tax for the benefit of . . . (subdivision) for the purpose of . . . at a rate not exceeding 3.5 mills for each $1 valuation, which amount to $0.35 for each $100 of valuation, for . . . (term).”
HB 140: “A renewal of tax for the benefit of . . . (subdivision) for the purpose of . . . (purpose), that the county auditor estimates will collect $ . . . annually, at a rate not exceeding 3.5 mills for each one dollar $1 of valuationtaxable value, which amounts to $33.03 for each one hundred dollars$100,000 of valuation the county auditor’s appraised value, for . . . (term).”
There are a number of issues with the proposed changes, a few are highlighted below:
The total estimated amount to be collected includes all property; however, the estimated amount based on $100,000 of county auditor’s appraised value reflects residential only
In the event of a renewal, HB 140 states that the estimated amount shall reflect the “estimated effective rate.” The total amount of $33.03 reflects a residential effective rate of 0.94 mills due to HB 920; however, the ballot reflects the voted millage of 3.5 mills (which would equal $122.50 annually for a new money issue).
Estimated value per $100,000 of appraised value does NOT include any applicable tax credits, including Homestead and rollback.
There are different effective rates that apply to commercial/industrial property.
$100,000 overstates the average home value in counties throughout Ohio