What is an operating levy? An operating levy generates funds to operate our schools. The
money from this levy goes into the general fund and is used for
operational costs of the total district. All funds generated by this operating levy stay in the Canfield Local School District.
How much will this levy increase my taxes? A 6.8 mill operating levy will increase taxes on a $100,000 house by $17.35 per month. In 2013, after saving over $4 million dollars in interest, the 2.5 mill bond issue will be paid and Canfield Schools' taxpayers will be paying 2.5 less in school taxes.
In 2011 the cost will be: 100% Appraised Value $50,000 $100,000 $200,000 35% Taxable Value $17,500 $35,000 $70,000 Monthly Tax Increase $8.49 $17.35 $34.71
In 2013 (6.8 – 2.5 = 4.3 mills) the cost will be: 100% Appraised Value $50,000 $100,000 $200,000 35% Taxable Value $17,500 $35,000 $70,000 Monthly Tax Increase $5.49 $10.97 $21.95
How much will this operating levy generate for the Canfield Schools? The estimate revenue that this levy will generate is $3,793,502.
When was the last operating levy passed? Voters approved a 6.9 mill operating levy in 2002. This levy was
projected to last three years; however, the district stretched those
dollars for five additional years.
What is the definition of a "mill" or millage? Millage is the factor applied to the assessed (taxable) valuation of a
real property to produce tax revenue. A mill is defined as one-tenth of
a percent or one-tenth of a cent (0.1) in cash terms.