The Northeastern Local Schools is asking voters to approve a levy that they say would help the district reverse two years of deficit spending.
The 2.95-mill, five-year property tax levy for operating expenses will be decided by those going to the polls on Nov. 5, and would generate approximately $650,000 annually beginning in 2014.
Scholl officials say the levy is needed to counter deficit spending the last two school years when expenses exceeded revenue by $343,981 and $289,926, respectively.
The deficit spending has cut into the district’s general fund carry-over which stands at $3.3 million
Meanwhile, the district has not said it would implement any immediate budget cuts if the tax issue is defeated.
If the levy passes, the owner of a $75,000 home would see a $77.44 annual increase in property taxes.