SCS to try for Earned Income Tax

SCS to try for Earned Income Tax Levy

Sidney City Schools recently announced another phase of staff reductions set to take place for the 2021-2022 school year, further helping the district to reduce district expenses and curb deficit spending. 

 

The district has stretched dollars as far as possible and made significant cuts without eroding educational quality, including staff reductions through the reconfiguration of the schools for the 2019-2020 school year, and additional staff reductions for the 2020-2021 and 2021-2022 school years. The total reductions and changes for school years 2019-20, 2020-21, and 2021-22 result in savings of approximately $5.3 million in annual expenses.

 

(Resource: SCS ANNOUNCES MORE STAFF REDUCTIONS 1/15/2021)

 

Though the district has taken drastic measures to reduce annual expenses, local funding is still necessary to sustain the district operations, and the district will be asking the community to support an operating levy on May 4th.  

 

On Tuesday, January 19, 2021, the Sidney City Schools Board of Education made adjustments to resolutions previously passed on January 5, 2021, at the regular board meeting. The district is looking to ask voters to support an income tax levy instead of a property tax levy. 

 

Having failed the 7.3 Mill Emergency Levy multiple times in 2020, Sidney City Schools Board of Education and administration sought feedback to guide their decisions. After sharing a digital survey with the community, assessing the responses, and further discussing options with members of our community, the Board has reduced the amount it is asking for. It has also decided to ask the community to support a 0.75% Earned Income Tax instead of a property tax. 

 

The 0.75% Earned Income Tax levy would generate $3.3 million annually. Similar to a property tax, this tax would only be applied to residents of the district. An earned income tax will only tax W-2 compensation or self-employment income that is subject to the self-employment tax.

 

More information on the income tax levy can be found at www.sidneyschoolslevy.org

 

The district will be publishing a series of informational videos about school funding, financial history, the income tax levy, and more. These videos can also be viewed at www.sidneyschoolslevy.org

 

Additionally, anyone with questions may contact Sidney City Schools Superintendent Bob Humble or Treasurer Michael Watkins at 937-497-2200, or by email at bob.humble@sidneycityschools.org or michael.watkins@sidneycityschools.org





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