JUST THE FACTS
November 2017 RENEWAL Levy
On November 7, 2017, the Cardinal Local School District will have a 9.7 mill renewal levy on the election ballot. This levy generates around $2.9 million for the district’s general fund budget. This levy will NOT cost tax payers any additional money. Much like you renew your driver’s license every 5 years to keep operating a motor vehicle, the district needs to renew this levy to continue collecting the same amount of money as when it was voted in. There is no increase or additional cost to you and your family. Money collected from the levy will continue to go into the general fund budget to maintain current levels of staff, benefits, maintenance, technology, academics, transportation, and student programming. | INFORMATIONAL VIDEO | G-TV PROGRAM
Without this money:
- The District will be forced to make drastic cuts in all of these areas – even more so than what we would have had to make if the May levy had failed.
- The District will have to ask for a new Operating Levy at 10 mills to make up for the loss of revenue.
- Homeowners will lose their rollback and homestead exemption, which means increased tax payments.
Again, this levy is simply asking you to renew and continue your current commitment to the success of the Cardinal Local School District.
This effort is orchestrated and managed solely by the levy committee to get information out about all things levy-related. It’s a perfect venue for leaving comments and getting answers to your levy questions. Please give it a try and feel free to share Let’s Talk Levy with your family, friends, and neighbors! Remember, all questions deserve answers! Get started by clicking the Let’s Talk icon to the left!
May 2017 New Levy
The Cardinal Local School District is putting a 5.5 mill levy on the May 2 ballot (Issue 1). If passed, the levy would generate around $1.7 million for the General Fund Budget beginning in 2018. Please visit the Cardinal Schools Levy webpage for additional levy information.
G-TV Levy Information Program (May 2017)
Investing in Cardinal Schools
5 Facts About the May 2 Levy
CALCULATING THE COST
Understanding how a levy cost is calculated can be a bit confusing. First, some definitions:
Market Value – The value of your home if you were to list it for sale
Assessed Value – 35% of the market value of your home. The assessed value determines your yearly cost of a levy payment. (Formula: market value x .35 = assessed value) For example, a home with a $100,000 market value would have a $35,000 assessed value. ($100,000 x .35 = $35,000)
To determine the annual cost of a levy payment you must multiply the assessed value of your home by the levy amount (in Cardinal’s situation we are putting on a 5.5 mill levy, which translates to .0055 mathematically.) To calculate the monthly cost of a levy, you must divide the annual levy cost by 12. To calculate the daily cost of a levy, you must divide the annual levy cost by 365.
Annual Levy Cost Formula: Assessed value x Levy amount = annual levy cost (i.e. $35,000 x .0055 = $192.50)
Monthly Levy Cost Formula: Annual levy cost / 12 = monthly levy cost (i.e. $192.50/12 = $16.04)
Daily Levy Cost Formula: Annual levy cost / 365 = daily levy cost (i.e. $192.50/365 = $0.53)
LEVY VS. CONSOLIDATION
When it comes to consolidation, Cardinal is in a pay now or pay later situation. | DETAILS