News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Metro RTA

Cedar Point

Akron Children's Hospital


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Education


New tax bill hits Akron Public Schools

The district received a shock this week when it found out it has to pay back $3.2 million in tax revenue owed to the City of Akron. 
by WKSU's TIM RUDELL



Reporter
Tim Rudell
 
In The Region:

Akron Public Schools got a lesson on how some things that slip out of view can come back to bite you.   WKSU’s Tim Rudell reports on a multi-million-dollar hit to the system’s already battered budget. 

Tim Rudell - Akron schools take a hit

Other options:
Windows Media / MP3 Download (1:01)


Nobody was tracking the TIFs…and Akron Schools must now turn over $3-million dollars that was supposed to go the city, but was being temporarily held by the district.  
TIF stands for “Tax Increment Financing.”  Local governments use it to get businesses to locate in their communities.  TIF works with property tax, holding down initial rates for areas being developed-- as an incentive for businesses. It also uses the promise of higher tax receipts after the property is developed to borrow for things like new streets and sewers.  

Akron Public Schools got into a bind because all of the receipts from local TIFs went to the district, including money that was to go to the city later.  Those took a while, in some cases years, and the TIF “pass-backs” were no longer on anybody’s radar in Akron or Columbus when the accumulated tab finally came in this week.  It was a surprise, and a blow, to a district already facing a $9 million deficit and asking voters in November to approve a 7.9 mill levy.  

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Brunswick will turn tornado sirens back on after bad weather
Put the sirens back after the storms, in the mean time just sit and wait for another tornado . That's Brunswick for you lived here 44 years and it has always be...

Oberlin council may rescind its gun ban, but is considering alternatives to keep it in effect
Seems that the only scared, paranoid people are the anti-gun people, really.

Massive pipeline planned to pump Ohio shale products to Texas
This needs stopped. Ohioans pay the price, putting up with pollution, leaks, explosions, and the top one percent profit from exporting fracked product to China.

National Weather Service confirms three tornado touchdowns yesterday
I was driving back from a party and was caught in the middle of a large thunderstorm. The hail and lightning were a whole light closer than usual, is something ...

Another Indians season opens with Chief Wahoo under scrutiny
The picture you have for Robert rocha is not him. He has long hair. No idea who that guy is in that picture

Portman predicts McDonald's confirmation, but says it won't be easy
I sent the following note to Senator Blumenthal after reading commentary from yesterday's hearing: Senator, You certainly have the right to ask Mr. McDonald que...

Seven minutes changed everything, but what changed Ashford Thompson?
He shot the guy four times in the head. I have never been that drunk or mad, and I have been through it. Shoot a guy once is bad, maybe a mistake, shoot a guy f...

First cricket farm in the U.S. opens in Youngstown
I am interested in cricket flour to replace soy flour in a low carbohydrate diet. As soon as you have cricket flour available for the average person, please le...

New process starts digesting sludge in Wooster
Awesome! When do our sewage rates decrease accordingly?

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University