How reappraisal affects Worthington Schools

reappraisalLast week my family received a letter in the mail  from Franklin County Auditor Clarence Mingo.  I was kind of afraid to open it….All Worthington City Schools residents recently received a similar letter with the updated values for your property as part of the Franklin County Auditor’s 2017 reappraisal process. The reports show that Worthington City Schools residents are expected to realize an increase in values of approximately 12.5% on residential property.

The 12.5% is the average increase of all properties.  Those whose valuation has gone up more than the average will see a larger increase in taxes and those whose valuation increase is less than the average will see a smaller increase and in some cases a decrease in their tax bill.

The first question many residents may have is: “Will my property taxes go up 12.5 percent?” The answer is no. While each property owner will be impacted differently, the average tax bill increase will be about 1.96% for our residents. This is a result of a state law, more commonly known as House Bill 920, which limits inflationary growth on taxes.

While HB 920 protects homeowners from large increases in taxes, it also prohibits school districts from collecting additional revenue from increases in property values. So unless new tax issues are passed, local revenue for schools remains relatively stagnant.  One exception to HB 920 is something called “inside millage”which is 4.5 mills for the Worthington district.  This is the only portion of the tax rate permitted to increase or decrease with valuation.

So while the average increase in property value was 12.5% the increase in revenue for Worthington Schools is expected to be less than 1% of our operating revenue.

-Trent Bowers, Superintendent

Standard

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s