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TWINSBURG -- Voters in the Twinsburg City School District will see Issue 15 on the May 2 ballot, the number given to the 6.9-mill tax levy approved for the ballot by the Twinsburg Board of Education in January.
The levy is estimated to generate $5.65 million a year in property tax revenue for the school district and cost the owner of a $100,000 home $241.50 per year.
The Summit County Fiscal Officer has placed the total tax valuation for the Twinsburg City School District at $818,686,210.
School officials say the new levy is needed to make up for the loss of state revenue due to the phase-out of the CAT tax. The loss accounts for about 23 percent of the district's revenue, which for 2017 is about $42.678 million. Right now, the CAT tax makes up about $4.6 million of the district's budget. The total anticipated revenue loss is about $9.8 million by 2020.
Without new money, officials say, the district will be deficit spending by 2020, according to the district's 5-year forecast.
The Twinsburg City School District will host a community forum about the district's finances March 20 at 6 p.m. at the Twinsburg Public Library.
Superintendent Katherine Powers and Treasurer Marty Aho will present financial information followed by an opportunity for audience members to ask questions regarding the district's finances.
In addition to this forum, people can find information about this topic on the district website at www.twinsburg.k12.oh.us as well as by viewing the district's monthly cable show, "Twinsburg Schools Today" on Cable 9 or through the website.
-- Compiled by Reporter April Helms