Laserfiche WebLink
SEP-21-2004 TUE 01:07 PM MAYFIELD BD OF ED FAX N0, 4409957205 <br />Page 2 <br />September 14, 2004 <br />2. How does Mayfield's effective miilage rate compare with the ather high performing <br />Cuytthoga County district's that rcceived 18 out of 1$ on the proficiency test and state <br />report card7 Please note that Mayfield pays Iess For high.student achievernant (high scores/low taxes) than <br />any of the following districts_ <br />Effective Millaae <br />• Olmsted Falls 45.63 <br />• BayVillabe 44.38 <br />• ]Brecksville- <br /> ]Braadview Hts. 42.33. <br />o Chagrin Falls 41.81 <br />• North Royalton 39.00 <br />• Orange 38.27 <br />• Solon 36.33 <br />• 12ocky 12ive.r 32.79 <br />• Beachwood 32.40 <br />• MAyfIEId 28.47 <br />(Refer to Taxes Paid for each Profir.iency Point Chart) <br />3. VVe passed a levy in 2002, why da we need onc so soon and is this situation reiated to <br />how Mayfeld is affected by recerat State IegislafivE actions relative to tax revenue? <br />The most zecenk revenue estimates from the Cuyahoga County Auditor for the Mayfield City <br />Schools shows tess future tax dollars &om business personal property taxes. This is- a tax <br />that is paid liy Ohio businesses on machiuery, equipment and inventory. - <br />Last year (2003-04), the actual collection frorn personal property taxes was $6,176,530. In <br />(2402-03), this revenue source provided $6,496,852 in the General FLxnd. This is a drop of <br />$320,322. This decrease is attributed to lower tax v'alues and to the new State Budget bill <br />that accelerates business tax credi-ts and reduces previaus state reimbursements on exempt <br />•taaces aver 10 years. In 2004=05 this deerease could continue to an estimated level of <br />$5,547,587 or another $628,843. After 12 years, the cumulative total loss 7Vlayfield <br />Schools will experience is estimuted at $20.6 million. <br />P. 03