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Frequently Asked Questions

We want to provide you with the most accurate information possible and answer your questions in a timely manner.  We will continue to update our Frequently Asked Questions as questions come into us.  You can scroll down through the entire document or click on a question at the top and "jump" to the correct response.

Questions:
Why was the cost to a $100,000 home owner different in the Oakwood Register and the Dayton Daily News?
When will the taxes first come due if the ballot issue is improved in May?
When will the building project be done?
Why combine two requests into one ballot issue?
Why is the difference between a continuing and a permanent levy?
What are the different types of school levies?
How many levies are currently funded by the residents for the Oakwood Schools?
How much savings in utilities is anticipated when Phase 1 is complete? 

Why was the cost to a $100,000 home owner different in the Oakwood Register and the Dayton Daily News?
The Dayton Daily News printed the correct amount.  The Oakwood Register’s numbers were incorrect and seemed to miss that only 35% of appraised property value is subject to taxation.  A house appraised by the county auditor at $100,000 will pay $175 a year for the operating levy part of the ballot issue and $95 a year for the bond issue needed for Phase 1 renovations to our buildings.

When will the taxes first come due if the ballot issue is improved in May?
The taxes will be first due in 2020.

When will the building project be done?
We anticipate Phase 1 to be completed by the beginning of the 2021-2022 school year.  For more information about the timeline, view our Phase 1 timeline video

Why combine two requests into one ballot issue?
There are a number of reasons the BOE made the decision to combine the two parts into one request.  

  1. Both are needed and necessary and interdependent for the future of our schools.
  2. Both are critical and equally important so we did not want to prioritize either against the other.
  3. We are sensitive to the idea of levy fatigue and prefer to ask for what we need in one simple and straightforward ask.
  4. Both parts impact the other and the need for each.
  5. We wanted to put only what we need for  operating and bond on the ballot
  6. We are spending so much in maintenance right now to keep everything together, if the bond failed we would need more in operating to cover the costs so we did not divert money from the classrooms.

For these reasons, the decision was to combine the operating levy with the bond into one request.

Why is the difference between a continuing and a permanent levy?
The operating levy is called continuing not permanent for a number of reasons:

  1. The levy millage will reduce with changes in valuation potentially to the point of irrelevance but no one knows when that might be.
  2. Future Boards could opt not to apply this levy.
  3. This levy could be replaced at a future date.
  4. Unforeseen legislation or action could otherwise adjust or discontinue the levy.

Changing interest rates can impact the payment of the bond issue.  However, the interest rate risk is ONLY between now and issuance of the debt (June 2019).  The rate average is fixed upon issuing the debt, no variable rates or reissued debt later is permitted after initial issuance. Furthermore, we would issue soon after the May vote so voters will know within reason what the payment will be.  We expect the milage to be right around 2.7 mills which is $94.50 on a $100,000 home.

What are the different types of school levies?
There are three types of levies:  operating, permanent improvement and bond.  Operating levies are for day-to-day expenses, permanent improvement levies are used for assets and bond levies are typically used for facilities. 

How many levies are currently funded by the residents for the Oakwood Schools?
Operating levies approved by voters currently total 129 mills.  Those mills have reduced to only 61.24 mills being collected, as a result of property increasing.  Permanent improvement levies currently total 1.8 mills and are collecting at 1.592.  The current bond levies are approved to make payment on debt levels.  Current bond rates are at 4.13.

If you total all levies Oakwood voters have approved, it is 134.93 mills.  Since Ohio rolls back the millage each time property values increase, the total collection is at 66.96 mills.  The resulting multiplier is:

Property (Appraised) Value X 35% = Assessed/Taxable Value
Assessed/Taxable Value X .06696 = Tax

In addition, there could be other discounts that may apply to individuals’ rate based on ownership, occupancy and exemption options.

How much savings in utilities is anticipated when Phase 1 is complete? 
Conservatively, engineers say we can expect approximately a 10% overall reduction in energy use.