TPS levy generating $13M could expire in May - Toledo News Now, Breaking News, Weather, Sports, Toledo

TPS levy generating $13M could expire in May

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TOLEDO, OH (Toledo News Now) -

Months after voters shot down Toledo Public School's levy request, the district is trying to figuring out how it is going to make ends meet in the future without tumbling into deficit.

November's request was shot down by voters who did not agree with the 10-year 4.9 mill levy, leaving the finance committee stuck trying to put the pieces together in January.

On Friday, the finance committee of TPS recommended to renew a levy that is expiring. A straight renewal means no new taxes for taxpayers.

While an exact amount of the levy has not yet been determined, it is estimated at 6.5 mill for the May 2013 ballot. That would generate $13 million over a period of five years. The money will also allow the district to maintain its $13 million annual budget.

The existing tax levy expires at the end of 2013.

To continue at the level where the district is currently operating, the committee said the levy must pass. If it doesn't pass, TPS will be $65 million in the hole.

TPS is currently in the process of a performance audit to determine how it can tighten its budget. Officials say the district still needs support from the taxpayers.

"We want to make sure the community knows that we believe in the path that we're going, that our employees know and our students and families also understand that we're confident that we're going in the positive path. And we're going to need that money to make sure that we do, and we think that that's really important," said Bob Vasquez, a member of the finance committee.

The Toledo School Board will next take up the issue on Tuesday.

The idea is met by mixed feelings from Toledoans shelling out the cash.

"Us as tax payers, we should be willing to give that money up for these kids because it's their future, their generation, the next generation. I feel any amount we invest in them is not enough," said Anthony Nash.

Edna Altmanshofer says, "it's too much tax for a senior citizen to pay."

E-mail news@toledonewsnow.com if you're a TPS parent and would like to talk to a WTOL 11 reporter about this issue.

Copyright 2013 Toledo News Now. All rights reserved.

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