CAUV Revision Impact on Madison-Plains School District Tax Collections
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Transcript of CAUV Revision Impact on Madison-Plains School District Tax Collections
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CAUV Revision Impact on Madison-Plains School District Tax Collections
Prepared April 2013
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Tax Collections
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Tax Collection Changes
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
$5,500,000
$6,000,000
$6,500,000
$3,164,605$3,321,010
$4,070,445 $4,103,146
$5,382,248
$5,756,513$5,795,851
$6,033,438
COMBINED AGRICULTURE / RESIDENTIAL TAX REVENUES
CAUV RATE
CHANGE+$309 K
CAUV RATE CHANGE +
$222 K
8 MILL - 3 YEAR OPERATING
LEVY +$1.3 MILLION
5 MILL - CON-TINUOUS OP-
ERATING LEVY +$750 K
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Question #1
Why have Current Agricultural Use Values (CAUV) changed so much?
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Ohio Farm Bureau Video
http://www.youtube.com/watch?v=mtYv_xZHh8E
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Ag Value Facts
Madison County Average Market Value / Acre = $4,500
Highest CAUV value in Madison County = $1,960
This equates to a 56% decrease in value for the most productive farm land in the county.
Average % of CAUV value to Market value in Madison County is 32%
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QUESTION #2
If Farm CAUV values went up by 55% in 2011 then why did the schools tax revenues
only go up by 3.9% ($221,876)?
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ANSWER #2:
Once a school levy is passed , the amount of money collected from that levy may not
exceed the amount received in the first year of collection.
(Except for Inside Millage, which is not Voted-in and New Construction)
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Tax Payer Example: Homeowner
TAXYEAR
HOME MARKET VALUE
ASSESSED VALUE(-65%) MILLS
SCHOOL TAX
2010 $400,000 $140,000 X 31.53 = $4,4142011 $388,000 $135,800 X 27.43 = $3,724
Down: 3% Down:4.1m Down 16%Taxes on a $400,000 Market Value Home
Decreased On Average By :-$689.21
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Tax payer Example: Farmer
TAXYEAR
FARMMARKETVALUE
FARM CAUV VALUE(-77%)
ASSESSED VALUE(-65%) MILLS
SCHOOL TAX
2010 $816,000 $183,600 $64,260 X 31.53 = $2,026
2011 $918,000 $399,840 $139,940 X 27.43 = $3,838
Up 13% Up: 78% Down 4.1m Up:89%Example assumes a 204 acre farm with the highest CAUV
values in Madison County.Market Value 2010 $4,000 / acreMarket Value 2011 $4,500 / acre
+$1,812
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2011COLLECTIONS
2012COLLECTIONS
CHANGE IN COLLECTIONS
Farm Taxes $2,180,353 $2,941,822 $761,469 35%Homeowner Taxes $3,631,209 $3,091,616 -$539,593 -15%
TOTAL TAXES $5,811,562 $6,033,438 $221,876 3.9%
The 3.9% Increase in Taxes was due to the increase in property values times the inside millage rate of 5.1 mills. Taxes on Voted Millage Were NOT Increased.
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TAX COLLECTION CHANGE
2011 2012$0
$1,000,000$2,000,000$3,000,000$4,000,000$5,000,000$6,000,000$7,000,000
$3,631,209 $3,091,616
$2,180,353 $2,941,822
Homeowner Taxes Farm Taxes