Richmond Heights Local School District Bond Issue and Tax Levies
Issue 62 on the ballot. Ballot language: Shall the Richmond Heights Local School District be authorized to do the following:(1) Issue bonds for the purpose of constructing, renovating, and improving facilities for school and community use; furnishing and equipping the same; improving the sites thereof; and acquiring land and interests in land in connection therewith, in the principal amount of $17,500,000, to be repaid annually over a maximum period of 37 years, and levy a property tax outside the ten-mill limitation, estimated by the County Fiscal Officer to average over the bond repayment period 4.23 mills for each $1 of tax valuation, which amounts to 42.3 cents for each $100 of tax valuation, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds?(2) Levy an additional property tax to provide funds for the acquisition, construction, enlargement, renovation, and financing of permanent improvements at a rate not exceeding 2.91 mills for each $1 of tax valuation, which amounts to 29.1 cents for each $100 of tax valuation, for a continuing period of time?(3) Levy an additional property tax to pay current operating expenses at a rate not exceeding 4.94 mills for each $1 of tax valuation, which amounts to 49.4 cents for each $100 of tax valuation, for a continuing period of time?A majority affirmative vote is necessary for passage.A YES vote approves the levies.A NO vote opposes the levies.LEAGUE EXPLANATION: The Richmond Heights School District has bundled its request for funds from the community into one ballot issue comprising three levies that total an additional 12.08 mills in property taxes. A bond issue (4.94 mills) and permanent improvement levy (2.91 mills) would raise about $27 million for improvements at the elementary school and the construction of a new building to house students in grades 7-12; the new building would also include a public library branch, community center, and space for an aviation program tied to the local airport. The 4.94 mill operating levy would raise another $1 million for salaries and other operating expenses. The cost to the owner of a median-value ($144,000) home in the city would be $611 per year.
CHOOSE TWO CANDIDATES FROM BELOW TO COMPARE
Yes - For the Measure
No - Against the Measure
Pro and Con Arguments For and Against the Measure
1. The new building will serve both students and the community.
2. A new school building and renovated elementary school could attract young families, retain young families already living in Richmond Heights, attract new businesses, and retain established business.
3. The cost to the owner of a $100,000 home is about $1.15 a day.
1. The owner or a median-priced home ($144,000) would see a property tax increase of $611 per year.
2. The $27 million raised via the bond issue and permanent improvement levy will not include the $2 million needed to build a new football stadium and athletic area.
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