The amount of taxes of collected by a school levy is determined by taking the current market value of the property provided by the county auditor and multiplying that amount by 35% to arrive at the taxable value. This taxable value is divided by 1,000 and multiplied by the millage amount. A 4.9 mil levy will increase taxes by $171.50 ($100,000 * .35 / 1000 * 4.9) for each $100,000 of market valuation. Ohio House Bill 920 freezes the yearly amount in real estate taxes that a school district receives to the dollar amount calculated at the time the levy passes so $171.50 (per $100,000 market valuation) is the amount that the schools will receive from a 4.9 mill levy even if future county reappraisals (every 3 years) increase or decrease market valuations. Rocky River taxpayers also pay 4.57 mils of inside millage (unvoted) which is exempt from HB 920 and was part of the reason that your current tax bill increased. Schools are required by law to put their monies in separate funds. They have an Operating Fund that covers current expenses like salaries and utilities, and they have a Permanent Improvement Fund that covers capital expenditures like the HVAC purchase. Levies are designated as being for one or the other fund a combo of each. The Rocky River School Board Resolution on the agenda indicated that the 4.9 mil levy was a combo with 4.4 mil for the Operating fund and .5 mill for the Permanent Improvement fund. Some school districts have a Limited Levy that expires in a certain number of years where voters need to vote on a Renewal or Replacement Levy after the Limited Levy ends. Rocky River City Schools use Continuing Levies to fund our schools. A Continuing Levy never expires and runs forever. Four years after the May 2017 4.9 mil Continuing Levy was passed, the May 2021 4.9 mil Continuing levy was defeated. The federal government has also given money to the Rocky River City School District through coronavirus aid including the CARES Act, CRRSA Act including $1.5M for the most recent American Rescue Plan. The school board appears to have dropped the idea of a May 2022 4.9 mil Continuing Levy and is considering a levy for November 2022 that will use the new property valuations that just recently increased by 19%.