City faces budget shortfall as new tax levy proposed

In a recent government meeting, city officials outlined the financial challenges and plans for the upcoming year, highlighting a projected budget shortfall of $1.3 million in 2024. This deficit is primarily attributed to the expiration of a 3.75 mill property tax levy, which officials believe will be mitigated by a proposed replacement levy.

The city plans to place a 2.41 mill property tax replacement levy on the ballot this March, expected to generate approximately $1.1 million annually for city services. This levy seeks to replace a previous one that received strong voter support, with a 70% approval rate in 2018. City officials emphasized the importance of community backing for this measure, noting that only 5.6% of property taxes are allocated to city services, with the majority funding local schools and county agencies.

Additionally, the meeting addressed significant capital projects, including the $1.5 million resurfacing project on Far Hills Avenue, which will be funded with 80% support from the Ohio Department of Transportation and 20% from city funds.

In a notable change, the city has raised water rates for the first time in seven years. Despite this increase, officials stated that the city's water rates remain among the lowest in the region, previously ranking as the third lowest before the adjustment.

City council members and the budget review committee expressed their support for the upcoming levy, urging residents to vote in favor to ensure continued funding for essential city services.