Northridge School District Income Tax and Bond Issue
Shall the Northridge Local School District be authorized to do both the following:1. Impose an annual income tax of 0.75% on the earned income of individuals residing in the school district, for 30 years, beginning January 1, 2018, for the purpose of permanent improvements.2. Issue bonds for the purpose of paying part of the cost of: building a new elementary school (pre-kindergarten through sixth grade) on the main campus, upgrading the middle school mechanicals, upgrading safety and security measures at the middle school and high school, together with equipment, furnishings, technology and all necessary appurtenances thereto, in the principal amount of $14,688,374, to be repaid annually over a maximum period of 30 years, and levy a property tax outside the ten-mill limitation estimated by the county auditor to average over the bond repayment period 2.9 mills for each one dollar of tax valuation, which amounts to $0.29 for each one hundred dollars of tax valuation, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds.The bond issue, as on the ballot, is 2.9 mills. At that rate, the cost would be $101.50 annually per $100,000 of home value.The bond issue would raise $14 million for construction of the new school building and provide updates to security and mechanical needs at the middle and high school, as well as maintenance needs across the district.Read more:Two Licking County school districts seeking more money
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