Ohio Property Tax Changes Mean Decreased Revenue

A message from Isaac Seevers, Superintendent:

Our board-approved strategic plan clearly outlines our commitment to Operational Excellence as we “utilize district resources efficiently to provide a safe, conducive, and excellent learning environment” for our students. As a district leadership team, we are working to “create and execute a strategy to continue to transparently communicate the district’s financial status to the community, fostering stakeholder understanding and trust in the district’s financial management.”

Over the past few months, our Treasurer and Communications Coordinator have created and shared meaningful resources on our District website and I would encourage you to take some time to review these amazing resources.

During this week’s Board of Education meeting, Mrs. Ervin presented her bi-annual Financial Forecast and reported significant financial shifts due to recent changes to Ohio property tax laws. Specifically, four new laws passed in December will lead to a $13 million decrease in our projected revenue by 2030.

We have consistently taken intentional steps to be responsible by right-sizing our staffing levels to match enrollment trends. For example, we reduced salary expenditures by nearly $600,000 this school year. While this was a successful first step made possible by a high number of retirements, we recognize that small shifts alone will not bridge a $13 million gap.

When expenditures outpace revenue there are only two ways to remedy the situation: reduce expenditures or increase revenues. While we are committed to operational efficiencies, state legislators have also encouraged districts to diversify revenue streams to reduce our reliance on property taxes. We are currently researching solutions to determine what best fits Lebanon’s needs.

Ultimately, our plan must be a combination of increasing revenue and responsibly controlling expenditures. I encourage you to review this Property Tax Change document for more details. For those who wish to see the full forecast presentation and data, the Treasurer’s presentation is available to view on YouTube.

While recent changes to Ohio property tax laws have significantly impacted our district, we want to be clear that we have a plan and we are being proactive.