Wednesday, October 31, 2007

School Board question

According to today's Blade, the Toledo Public Schools are projecting a deficit by 2010.

This is the part that got me wondering:

"Furthermore, the amount received from general property tax from real estate is predicted to decrease from an estimated $82.39 million for the 2009 fiscal year to $68.85 million the following year."

Nothing in the article explains why TPS is projecting a $13.54 million REDUCTION in real estate taxes.

Is it because a levy is expiring? Is it because of some change in the law? Is it because they expect the value of properties to decrease which would lower the amount they collect through the inside millage?

Inquiring minds want to know...

5 comments:

Tim Higgins said...

Maggie,

Could this have to do with the businesses that have either reduced their presence or left entirely?

On the other hand, our esteemed mayor is knocking a few houses down these days, taking them off of the tax rolls.

Maggie Thurber said...

That's the point, Tim, it doesn't say.

I don't know about you but if I was a reporter and some public entity said this, I'd ask WHY and then cover it as part of the story.

However, knowing that copy editors have the final say on a story, I don't want to blame the reporter. He could have included it and then had a copy editor cut it out for space reasons.

But having been a copy editor, I'd have left it in considering the huge question it leaves unanswered...

Chris said...

There are renewals in 08, 09, and 10.

Romano I believe said they would be worth 15 million, he said that last
night during the treasurer report at the end of the meeting. I also
believe before at the previous meeting in June or July Romano said that he did not include the passage of the
renewals into the budget projections.

I can't believe they will have a 20 million carryover at the end of
this year. Simply amazing.

Chris

Tim Higgins said...

What, more disappointment in the hard-hitting investigative journalism of the Blade! I'm shocked.

Frank said...

Here is an idea. Since you know that you might be in the red in a few years, would it not be possible to SAVE the amounts so that there is no fear of being in the red by 2011?
And as far as levies go, there is little chance that I would vote for one (or 2 or 3) since they need to be a better with the money they have at this point.

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