Question 1
Bond issue
New tax if it passes
- Who asks
- Shaker Heights City School District
- Rate
- 6.45 mills
- For each $100,000 of value
- $226 a year (printed on the ballot)
- How long
- 37 years
- Pays for
- Paying off bonds (borrowing for buildings or facilities)
For your $150,000 home
$339.00 a year
$28.25 a month
$150,000 ÷ $100,000 × $226.00 = $339.00
Lit: 6.45 of every 1,000 taxable dollars.
- A bond issue borrows money (usually for buildings) and adds a tax to repay it. The mills are an AVERAGE over the life of the bonds: the actual rate changes from year to year.
- Check: 6.45 mills x $35 = $225.75 for each $100,000, which matches the ballot.
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