Some property owners will see tax increase
LISBON -When residential property owners get their tax bills, some will notice an increase.
That’s because six property tax issues were approved by voters last year and are scheduled to go into effect with the 2014 tax bills, as is a new East Liverpool street levy passed in 2012.
The following is list of those areas where property taxes will increase and why:
City property owners will be hit the hardest in the county because of a 5-mill street levy passed in 2012, collection of which was delayed until this year because of a wording problem with the levy ballot language.
In addition, the East Liverpool school district increased the millage on a permanent improvement levy/bond issue passed in 2002 that was to generate $7.9 million for the district’s share of a major renovation project funded largely with state money.
In order to generate enough money to meet the 2014 bond payment, the levy millage was increased from 1.8 mills to 2.9 mills. The last payment is in 2018.
The result is a combined 6.1-mill increase for school district residents who also live within East Liverpool city limits. Those outside the city but who reside within the school district will see only a 1.1-mill increase.
Voters approved a new 1.7-mill fire levy and also renewed a 4-mill operating levy as a replacement levy, which allows the levy to be collected again at the original, higher rate.
However, these increases will be offset by the elimination of 2.92 mills in property taxes being collected by the Crestview school district on a 1992 bond issue. The bond issue was paid off one year early, so the tax will no longer be collected.
New Waterford is within the Crestview district, and as a result village residents will still see a net decrease of 1.92-mills in their property taxes.
Residents there approved a new 1.5-mill road levy.
Residents there approved a new 3-mill police levy.
Residents there passed a new 1.25-mill fire truck levy.
Residents renewed a 2-mill fire levy as a replacement levy.
Any increases will be offset somewhat by an overall 2.9 percent reduction in residential property values that also take effect in 2014. The reduction is the result of a readjustment of values performed in between the countywide reappraisal, which occurs every six years.
Farmland values, on the other hand, will increase by 5 percent this year, which is in addition to a 40 percent increase in farmland receiving the CAUV state tax break.