Walter Golladay is a resident of Loveland and submitted this Guest Column. He also read this statement at last week’s Board of Education meeting.

by Walter Golladay

Loveland City School District has announced the financial impact on homeowner’s property taxes “translates into $49 monthly per $100,000 of appraised home value.” $49 times 12 months equals $588 per annum.

In Hamilton County, a home with a market value of $229,810 would realize a school district property tax increase of $1,351.28 per annum.

Assessed value math of 35% market value equates to $80,430 times .01678 mills and produces a $1,349.62 per annum tax increase. Roughly equivalent property tax results.

Either math formula will produce a whopping 47% increase in school property taxes over our present tax year.

If the school tax levy passes on November 5th, for this typical home, two additional school property tax payments of $675.64 would be payable next year, in January and June. The first payment due just 2 months after successful passage of the November elections.

Today, a typical home in Loveland City School District taxes account for almost 60% of the property taxes paid annually to Hamilton County. If the proposed school tax levy passes, next year Loveland City School District taxes will significantly increase and account for almost 70% of the property taxes paid to Hamilton county.

For the same home this year, a property owner paid two payments of $1,434.79, for a total of $2,869.58, in property tax dollars to Loveland City School District. If the proposed November 5th tax levy passes, next year a property owner will be required to pay additional taxes of $1,351.28. The additional amount is slightly less than the present two semi-annual payments. The increase would equate almost to a 3rd school tax payment beginning January 2020, and continuing indefinitely.

If the proposed school tax levy does not pass on November 5th, no increase in present Loveland City School District property taxes would be payable in the coming tax year. You would be able to pocket your money and spend or save it as you wish, not as the Loveland City School District wishes.



 

5 COMMENTS

  1. This tax increase is insane! A 47% increase and permanent. I am retired and have no children in the school district. The only people that will consider living here are those that have school age kids. The diversity of the district will change when people decide it is too expensive to live here. Property values will drop. What happened to balance?

    Someone please advise me on how I can get NO signs for my yard?

  2. If this tax passes it will hurt the property value and residents that live in the Loveland School District. With a request like this it appears the Board Members have been shielded from the realities of our economy. Over the past few years the economy has been on the decline not just here in the USA, but around the globe as well…such as Europe and China. As I live in the Loveland School District area, I can state we already pay to much in taxes and the waste needs to stop. I hope other are like me and want to retire someday and may what to hold on to some of the their hard earned money.

  3. Way too high! I would not vote for this in a million years, maybe a 10% but that’s about it.

  4. Agree with you completely. The Board has lost their minds. When property taxes exceed ones mortgage payment, you scratch your head.

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