Stow, Ohio's School Tax

Issue 10 will be on the ballot Nov 07, 2006. If voted in, Stow and Munroe Falls residents could see the tax rate on their earned incomes increase 1/2%. The income tax rates of Stow and Munroe Falls would remain at 2%, but the earned incomes of residents would be taxed an additional 1/2%. For every $10,000 annual salary residents would pay an additional $50. Issue 10 will generate approximately $4.1 million annually for five years beginning in 2007. If passed the increase would take effect January 01, 2007.

School taxes already in place.

* In 2005 residents passed a 5.13 mill renewal levy which will generate approximately $4.6 million per year for five years.

* In 2003 a 7.7 mill renewal levy passed which will generate approximately $7.4 million per year until 2007.

* There is also a 5.4 mill permanent levy which collects $5.21 million per year and does not expire.

* In 1976 residents passed a continuing 11.41 mill levy that will generate approximately $11.54 annually and does not expire.

* In 1977 a continuing 3.18 mill levy was passed which will generate approximately $3.21 million annually.

* In 1983 residents passed a .87 mill bond which is slated to expire at years end, but the district changed the levy into a permanent improvement fund earlier this year so the bond will continue to generate money indefinitely.

* In 1995 residents passed a .53 bond for the Stow-Munroe Falls Library. This levy will generate $453,842 this year and is slated to expire in 2007.

If property values fluctuate these rates could change next year.

Questions or comments: write or email eugene.dougherty@realliving.com