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Infrastructure Levy
Operating Levy
Your property taxes
 

The Riverlea Tax Levies: What You Need to Know

Eric MacGilvray, Infrastructure Committee Chair & Council Member

Introduction

The Village of Riverlea will have two tax levies on the ballot in the November 3 election:
  • An increase to the Village's operating levy.
  • An infrastructure bond levy (hereafter "infrastructure levy") to fund replacement of the Village's streets, curbs, and water lines, and repairs to the Village's storm sewer system.
Both levies would increase the amount of property taxes that Village residents pay. This memo explains the rationale behind the ballot issues and their implications for the Village and for Village residents. There will be a public forum to discuss the levies in the Circle Park on Riverglen Drive from 4:00-6:00 pm on Sunday, September 20 – the day after the Riverlea picnic. This will give you a chance to learn more and to ask any questions that you might have. We hope to hold a second public forum sometime in mid to late October.

Your property taxes

  1. What do my property taxes pay for?

    Most of your property taxes go to entities other than the Village of Riverlea. The two largest recipients are Worthington Schools and Franklin County.

    Current Property Tax Distribution for $300K House in Riverlea
    (total = $8,022)

    Current Property Tax Distribution.
    Worthington Schools $5,082 -- 63%
    Franklin County $1,680 -- 21%
    Riverlea Operating $682 -- 9%
    Worthington Library $400 -- 5%
    Sharon Township $179 -- 2%

    In 2014 about 65% of Riverlea's $250,000 budget paid for services to residents such as police protection, electrical and sewer fees, trash and snow removal, and street and park maintenance. About 20% went to Village government expenses, including salaries, legal counsel, and mandatory auditing, election, insurance, tax collection and training fees. About 10% was used to service the $650,000 zero-interest loan that financed the 2013 sanitary sewer repairs.

    Breakdown of 2014 Village Expenses

    Breakdown of 2014 Village Expenses
    Trash, Sewers, Electric $71,563 -- 29%
    Police $68,546 -- 27%
    Village Government $54,106 -- 22%
    Sanitary Sewer Loan $21,490 -- 9%
    Snow Removal/Street Repairs $14,994 -- 6%
    Other $7,938 -- 3%
    Park Maint. & Social Events $5,619 -- 2%
    County Board of Health $5,569 -- 2%

  2. How are my property taxes calculated?

    The current effective property tax rate in Riverlea is just over 87 mils. A "mil" is 1/1000th, or .1%, of a property's taxable value. So 87 mils translates to a tax rate of 8.7%. The taxable value of your home is 35% of its market value as calculated by the County Auditor. So if your home has a market value of $300,000 (about the average value of a property in Riverlea) then its taxable value is $105,000 ($300,000 x .35)

    The State of Ohio provides a 9.8% tax credit for non-business properties, and an additional 2.4% tax credit for owneroccupied properties. So the current net property tax for a $300,000 owneroccupied home in Riverlea is about $8,020 after those credits are applied:

    $300,000 market value x 35% = $105,000 taxable value
    $105,000 x 87 mils = $9,135
    $9,135 - 12.2% = $8,020 net property tax

    Senior citizens and disabled persons may receive an additional property tax credit via the Homestead Exemption.

    If both of the proposed levies pass, then the property tax rate in Riverlea would rise to just over 105 mils, an increase of about 21%, or about $1680 for a $300,000 home.

    Proposed Property Tax Distribution for $300K House in Riverlea
    (total = $9,706)
    Proposed Property Tax Distribution, in Riverlea
    Worthington Schools $5,082 -- 52%
    Riverlea Infrastructure Bond $1,453 -- 15%
    Franklin County $1,680 -- 17%
    Riverlea Operating $913 -- 10%
    Worthington Library $400 -- 5%
    Sharon Township $179 -- 2%

    If both ofthe proposed levies pass,then the property tax rate in Riverlea would rise to just over 105 mils, an increase of about 21%, or about $1680 for a $300,000 home

    You can look up the taxable value of your home on the Franklin County Auditor's website. Select Property Search for your property information. Then see more information about how your taxes are calculated and spent by selecting "Tax & Payments" and "Tax Distribution" in the menu to the left.
Next take a look at the Operating levy description.

Riverlea Family Picnic

Saturday, September 19th, 5:00 pm on the Village Green, 240 West Riverglen Drive
See more information and be sure to come enjoy your neighbors!!!

SCHEDULES

TRASH PICKUP
COUNCIL MTGS
PLANNING COMM.
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