Unable to get a school levy increase since 1992, the Lorain Board of Education has a new strategy.
Board members this evening unanimously approved seeking a combination income tax-property tax measure for the November ballot.
Voters will be asked to approve a perpetual 1 percent income tax that will raise about $5.4 million per year and a 4.9-mill property tax that would raise about $3.2 million during its seven-year life. The property tax would cost owners of a home valued at $100,000 an additional $153 per year.
If approved, the measure would eliminate about $8 million of a projected $11.4 million deficit in the 2012-13 school year, according to district Treasurer Dale Weber.
See Wednesday’s Chronicle-Telegram for additional details.