The Franklin school board combined a five-year, 8.88-mill emergency operating levy and a five-year, 7.92-mill emergency operating levy into a five-year, 15.89-mill substitute levy that would generate the same amount of money that the two current levies currently generate for the school district.
School officials said the new substitute levy will not raise taxes on property owners and will generate the same amount of revenue for the district. In addition, property owners will still keep a portion of the 12.5 percent homestead exemption rollback on close to 8 mills of the proposed levy.
Warren County Auditor Matt Nolan said the certified millage for the substitute levy is 0.91-mill less and said after the property re-valuations are completed, that millage may go down by at least 1 mill and still generate the fixed amount of nearly $7.18 million.
Nolan said the owner of property valued at $100,000 would still pay about $528.28, which is what they currently pay for the two levies.
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