Let's open a can of worms. It's time for some food for thought on what can be a heated topic!
Let's say a local school district has a tax levy on the next ballot.
That levy IS NOT a renewal of an existing levy, but an INCREASE if passed.
Do you vote Yes or No?
If you're seriously anti-tax, you've already decided haven't you? It's an automatic NO. Those folks wanting MORE of your money can just go _________________ (censored).
But for MOST people it's still probably an IT DEPENDS.
You need more information before deciding YES or NO.
So that levy increase works out to $175 annually PER every $100,000 in home values. Since the majority of homes selling in the school district are $200-300,000, the average homeowner will be out of pocket $350-525 extra a year. Maybe a bit more for you, maybe a bit less.
That MAY be all the information you need to decide.
You can afford it, it's good for the schools, etc. YES it is.
But maybe you're on a tight fixed income. The meat on the bone has gotten pretty slim. An extra $500 a year may make a big difference to you, so as much as you'd like to support the schools, you just can't afford any more and like it or not, you either have to vote NO or consider what changes you'd have to make (up to selling your home).
But let's say you CAN afford the levy, but you're still on the fence about which way to vote.
What else do you need to consider?
Do you have kids in the schools? Then most likely if that levy fails it's going to impact you directly. You know the deal, the administration states either we get the levy passed or X program(s) goes away. Your kid gets charged a higher fee for a sports program. The Gifted/Talented program gets axed. The club your kid just LOVES goes bye. Or maybe the bus service to your neighborhood gets cut. Either directly or indirectly, you're paying for the result of the levy.
Don't have kids in the school or they're long gone? WHY am I going to shell out my hard earned dollars for someone else's rug rats?
There's a couple of ways to think about that. Others without kids helped fund the schools YOU went to back in the day. And the kids of today are going to be the doctors, mechanics and business owners of the future...assuming we give them a good enough foundation to get there.
Well why can't the state just up the funding for the school?? Well where does the state funding come from? Our state taxes, right? So any "extra" spending comes with new taxes (just like the upcoming increase in gas taxes). So again, you're paying one way or another.
And there's one more important factor to consider. As local real estate agents there's one thing we've seen firsthand, and that is as school reputation goes, so goes property values.
When Little Miami school district residents rejected 8 straight school levies in the late 00's and early 10's, the home values plunged considerably worse than adjacent school districts. The recession was bad enough, but couple the recession with the uncertainty of the school situation and buyers avoided the area. It became MUCH tougher to sell, so while neighboring areas saw a drop of about 10% in home values, Little Miami was losing closer to 15%.
You might argue you have no plans to move, so SO WHAT if your property value drops. It's just a paper loss!
So there's the food for thought.
Do you vote Yes? Or do you vote No?
Serving Warren County Ohio home buyers and sellers,
Bill of Bill & Liz aka BLiz