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Millage, Taxes and Levies General Finance Overview:
Nearly 80% of all Township revenue is derived from property tax. There are two types of property tax, inside millage and outside millage, which is also referred to as special purpose or district levies. Unique to the township financial structure is the fact that only a township’s General Fund permits discretionary spending. All other township revenue funds must be expended for specific limited purposes. Outside millage is prohibited by state law to increase with annual property valuations for residential property so revenues remain nearly constant during the life of the levy because they are assessed against the value of property in the year the levy was passed. In other words, a levy passed in year one, generates nearly the same amount ten years later, because state law prohibits outside millage levies from being subjected to new reappraised values of property, which occur every three years. The result is the inevitable need to increase or replace millage with new levies every few years to keep pace with rising operational costs, which are subject to inflationary increases.The Board of Trustees cannot raise taxes. When the Board of Trustees determines that additional revenues are necessary to maintain or increase current service levies, it can decide to place the issue before the voters. A majority vote of the electorate is required to pass the issue.How levies can affect your taxes: Levies allow voters to choose to raise the money to support the services they demand as residents. Understanding Levies, Millage and TaxesLet's take a brief look at how levies operate. First, let's define the basic terms:Mill: A unit of measure, 1/1,000 milligram, milliliter, millimeter, etc. When talking about taxes, a mill is $1.00 in taxes for every $1,000 of assessed value.Assessed Value: In Ohio, the assessed value of real estate is 35% of the property's current appraised value by the County Auditor.How is appraised value determined? The County Auditor uses real estate sales in the county, specific property characteristics, and statistical analysis to arrive at the appraised value for every property in the county. The appraised value is determined as of January 1st of the year of the assessment.What happens when a tax levy is passed by the voters? Every levy ballot must contain language showing the year the levy commences (begins). For example, "...commencing tax year 2001"; taxpayers within the district where the levy's been approved will begin paying what they owe on the tax levy in the year of collection. The amount of millage they will pay ($1.00/$1,000 of assessed value of their real estate's value) is based on the amount of money the levy must collect.Inside millage is limited by law to 10 mills for any taxing district. Because they are inside mills, these 10 mills can be collected as a levy without being voted on by the people in the taxing district.Outside millage is all other millage requested that is over the 10-mill limit. Outside mills must be voted upon and approved by the majority of the voters in the taxing district where the tax will be levied. Because of H.B. 920 (passed in 1976), there is a cap on the amount of money a levy can collect. That means a levy can collect no more in the future than it collects during the first year it's enacted.What is a replacement levy? A replacement levy allows the taxing district to begin a new tax levy that will collect the entire amount of outside millage the levy requests using calculations based on the current market values of properties.What is a renewal levy? A renewal levy allows the taxing district to keep a current levy on the books and collect the same amount of money as when the original levy was voted in. THESE FIGURES BELOW ARE CLOSE ESTIMATES. THE STATE OF OHIO HAS CHANGED THE SO CALLED "10% ROLL BACK" TO "NON BUSINESS CREDIT" AT 9.7286% AND THE EXEMPTION FOR THE "PRIMARY RESIDENCE" HAS CHANGED TO "OWNER OCCUPIED FACTOR" AT 2.4321%. AGAIN THESE FIGURES BELOW ARE JUST CLOSE ESTIMATES......
How much can I expect to pay in taxes for a 1.00 mill levy? Assuming the market value of your home, which is your primary residence, is $100,000, your tax bill for a "1 mill" levy is calculated as shown below.Sample of the effect of a 1.00 mill tax on a $100,000 home's tax bill:
$100,000Market value of your home(WHAT YOU WOULD SELL YOUR HOUSE FOR)
$35,000Assessed value of your home (35% of$100,000)THIS IS WHAT YOU PAY TAX ON.
$35.00 A YEAR Gross taxes of 1.00 mill ($1.00/$1,000 assessed value)
*State of Ohio 10% Rollback=$3.50
*State pays an additional 2.5% as an exemption for the primary residence = $0.88
$30.62Net taxes for 1.00 mill levy
* If the levy is a new or replacement levy after 2013, the 10% and 2.5% rollbacks do not apply since the State of Ohio will no longer give the rebate for these levies.
PERRY TWP FIRE LEVY WAS DUE TO RENEW BACK IN NOVEMBER OF 2014. IT WAS A 4 MIL LEVY SO ON A $100,000 HOUSE YOU WOULD PAY (4 X $30.62 = $122.48 A YEAR FOR FIRE AND AMBULANCE SERVICE. IF YOU ARE A PERRY TWP. RESIDENT AND NEED THE AMBULANCE WHAT EVER YOUR INSURANCE PAYS IS ALL YOU OWE. FOR $122.48 A YEAR YOU GET FIRE AND SQUAD SERVICE. PERRY TWP. JUST PURCHASED A NEW AMBULANCE AND WE ARE COMMITTED TO TAKE EXCELLENT CARE AND PROTECT OUR RESIDENTS. PLEASE SUPPORT THE PERRY TWP. FIRE LEVY
ALSO WE HAD A RENEWAL OF A 1 MIL GENERAL FUND LEVY WITH JUST ENOUGH MONEY TO OPERATE.WE TRY TO BE THE BEST STEWARDS WE CAN BE WITH TAXPAYER MONEY AND THE TRUSTEES TRY TO DO MOST OF THE WORK THEMSELVES AND SAVE $