Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between an operating levy and a bond levy?

April 26, 2017Bond difference levy operating

0

Posted

What is the difference between an operating levy and a bond levy?

1 Answer

0

Posted

According to the Ohio Revised code a levy must state the purpose for the levy. The new levy of 2005 and the renewal levy in 2007 were for the day to day current expenses of the school district. The 2010 Bond Levy is for the local share of the construction of buildings under the State of Ohio Facilities Assistance Program. Bonds are sold to investors that pay for the project and then the taxes are collected to pay for the principal and interest of the bonds. Each time a levy is approved the district uses the dollars for the purpose of those levies.