Why do schools always ask homeowners for money?
State law allows districts to raise money in only three ways: property tax, school income tax and bond issues. Bond issues cannot be used for operating expenses. APS ruled out an income tax because businesses are not taxed at all. The burden falls entirely on personal income and can include pensions and Social Security. Local property taxes generate about $106 million, or 39%, of the district¹s total general fund revenue, with local homeowners providing less than 20% of the $106 million. You might be surprised to know that Akron has received only four operating increases in the past 21 years.
