Get the Facts

Surrounding Districts:

 

Sheffield-Sheffield Lake:  May 3, 2011, voters passed a 4.94 mill bond issue that cost the taxpayer of a house valued at $100,000, $151.31 ($30.63 x 4.94) to build a 7 – 12, $31 million building for 34 years.  It does not include an auditorium…architects estimate an auditorium would be 15,000 to 20,000 square feet.  The building is being built on 52 acres.  It is an OSFC project with $9 million being paid for by the Expedited Local Partnership Program (ELPP).

 

 

TREMENDOUS VALUE:  Avon’s taxpayers will see no increase in their millage rate while Sheffield’ residents are going to pay $151.31 for 34 years on a house valued at $100,000 for a similar size building.

 

 

Vermilion:  The Vermilion School District placed a 37 year, 3.98 mill bond issue on the ballot in November of 2011, (it failed), would have generated $33 million to pay for renovations of Vermilion High School and Sailorway Middle school, and add 70,000 square feet of new educational space.   Vermilion residents would have paid $121.91 per year on a house valued at $100,000.

 

TREMENDOUS VALUE:  Avon’s taxpayers will see no increase in their millage rate while Vermilion’ residents were going to pay $121.91 for 37 years on a house valued at $100,000.

 

Other Interesting Facts about Avon Facilities:

 

New Middle School:  6, 7, & 8 --- (approximately 1,100 – 1,200 students and 150,000-160,000 square feet (125 square feet per student)

High School --- 191,000 square feet with a minimum capacity of 1800 students

(106 square feet per student)

North, South & Connector --- 146,000 square feet with a minimum capacity of 1400 students

(104 square feet per student)

 

 

Avon Schools…Present An Opportunity to the Community…

  

“No increase in tax rate bond issue”

 

The Avon Local School District is urging the citizens of Avon to consider a bond issue to raise $32,000,000, without increasing the tax rate.  The purpose of the bond issue is to build a new middle school to reduce the overcrowding at the middle school and Heritage North and South.

 

As early as 1994, the Avon Board of Education recognized the future growth possibilities of the community and the school district.  In recognizing the capital needs that usually accompany the onset of rapid growth, the District created specialized bond issue in 1996, 2000, 2003 and 2006. The purpose of these special structures was to provide the ability to pay for future new buildings and improvements without increasing the tax rate on the homeowner. 

 

The 2000 bonds for Heritage North Elementary School were the first bonds issued in the community under this innovative bond plan without increasing the tax rate for property owners in Avon.  In 2003, the District was able to build Heritage South Elementary School without increasing the tax rate.  In 2006, the District was able to add onto the High School, add onto Avon East Elementary School, connect Heritage North and South, build a bus garage, build new bleachers, put in an all weather track and field turf at the athletic complex at the middle school without increasing the tax rate.

 

Once again, the District needs space for the students of Avon. Based on the unparalleled growth over the last several years, the District can issue bonds again without increasing the tax rate to repay them.  Based on the latest calculations by the Avon Board of Education’s bond underwriter, Stifel, Nicolas, & Company Inc. the District can once again generate a maximum of $32,000,000 using the innovative “no increase in tax rate” plan once agin to build a new middle school.

 

Like the previous bonds in 2000, 2003, and 2006, the $32,000,000 will appear on the ballot reflecting a millage of 2.34 mills.  In reality, however, this will not increase the tax rate. The continued growth, from new construction only, will combine with existing payments to provide the taxes necessary to repay the bonds. A “no increase in tax rate” bond issue is the only way the Avon Board of Education can continue to manage growth by providing new facilities without increasing the tax rate, while assuring that new taxpayers share equally in the responsibility of repaying bonds.

 

The mechanics of this concept work as follows: The 1996 bond issue had a built-in payment drop in 2000; the 2000 bond issue had a built-in payment drop in 2003; the 2003 bond issue had a built-in payment drop in the year 2006. The 2006 bond issue had a built-in payment drop in 2015.  As the bond issue to build a new middle school will be presented in November of 2012 the district is able to take advantage of the drop a year early in 2013 as the law provides the district to finance the bonds using the built-in payment drop of 2015.  Consequently, the bond issue will be a no new tax rate bond issue to build a new middle school and reduce the overcrowding at the middle school and Heritage North and South Elementary Schools.

 

Under the “no increase in tax rate” model, a taxpayer commits to continuing to pay what they have paid historically, recognizing they are foregoing a tax reduction in order to ensure future residents pay their fair share.