3306.13 Computation and distribution of state share of adequacy amount.
(A) The department of education shall compute and distribute to each city, local, and exempted village school district the state share of the adequacy amount for the fiscal year by subtracting the district’s charge-off amount calculated under division (B) of this section from its adequacy amount calculated under section 3306.03 of the Revised Code.
(B)(1) For districts with a class one effective operating tax rate that is less than twenty and one-tenth effective mills as of the first day of July of the current fiscal year, the charge-off amount equals the applicable charge-off rate, prescribed in division (C) of this section, times the sum of the district’s total taxable value plus its property exemption value.
(2) For districts with a class one effective operating tax rate that is greater than or equal to twenty and one-tenth class one effective mills as of the first day of July of the current fiscal year, the charge-off amount equals the applicable charge-off rate, prescribed in division (C) of this section, times the sum of the district’s recognized valuation plus its property exemption value.
If the difference obtained from the calculation is a negative number, the state share shall be zero.
(3)(a) For each school district for which the tax exempt value of the district equals or exceeds twenty-five per cent of the potential value of the district, the department shall calculate the difference between the district’s tax exempt value and twenty-five per cent of the district’s potential value.
(b) For each school district to which division (B)(3)(a) of this section applies, the department shall adjust the total taxable value used in the calculation under division (B)(1) of this section or the recognized valuation used in the calculation under division (B)(2) of this section by subtracting from it the amount calculated under division (B)(3)(a) of this section.
(C)The charge-off rate shall be as follows:
(1)In fiscal years 2010 and 2011, 0.022;
(2)In fiscal years 2012 and 2013, 0.021;
(3)In fiscal year 2014 and in each fiscal year thereafter, 0.020.
(D) The department shall use the information obtained under section 3317.021 of the Revised Code during the calendar year in which the fiscal year begins to calculate the district state shares under this section.
Added by 128th General Assembly File No. 9, HB 1, § 101.01, eff. 7/17/2009.
3306.13 Computation and distribution of state share of adequacy amount.
(A) The department of education shall compute and distribute to each city, local, and exempted village school district the state share of the adequacy amount for the fiscal year by subtracting the district’s charge-off amount calculated under division (B) of this section from its adequacy amount calculated under section 3306.03 of the Revised Code.
(B)(1) For districts with a class one effective operating tax rate that is less than twenty and one-tenth effective mills as of the first day of July of the current fiscal year, the charge-off amount equals the applicable charge-off rate, prescribed in division (C) of this section, times the sum of the district’s total taxable value plus its property exemption value.
(2) For districts with a class one effective operating tax rate that is greater than or equal to twenty and one-tenth class one effective mills as of the first day of July of the current fiscal year, the charge-off amount equals the applicable charge-off rate, prescribed in division (C) of this section, times the sum of the district’s recognized valuation plus its property exemption value.
If the difference obtained from the calculation is a negative number, the state share shall be zero.
(3)(a) For each school district for which the tax exempt value of the district equals or exceeds twenty-five per cent of the potential value of the district, the department shall calculate the difference between the district’s tax exempt value and twenty-five per cent of the district’s potential value.
(b) For each school district to which division (B)(3)(a) of this section applies, the department shall adjust the total taxable value used in the calculation under division (B)(1) of this section or the recognized valuation used in the calculation under division (B)(2) of this section by subtracting from it the amount calculated under division (B)(3)(a) of this section.
(C)The charge-off rate shall be as follows:
(1)In fiscal years 2010 and 2011, 0.022;
(2)In fiscal years 2012 and 2013, 0.021;
(3)In fiscal year 2014 and in each fiscal year thereafter, 0.020.
(D) The department shall use the information obtained under section 3317.021 of the Revised Code during the calendar year in which the fiscal year begins to calculate the district state shares under this section.
Added by 128th General Assembly File No. 9, HB 1, § 101.01, eff. 7/17/2009.
3306.13 Computation and distribution of state share of adequacy amount.
(A) The department of education shall compute and distribute to each city, local, and exempted village school district the state share of the adequacy amount for the fiscal year by subtracting the district’s charge-off amount calculated under division (B) of this section from its adequacy amount calculated under section 3306.03 of the Revised Code.
(B)(1) For districts with a class one effective operating tax rate that is less than twenty and one-tenth effective mills as of the first day of July of the current fiscal year, the charge-off amount equals the applicable charge-off rate, prescribed in division (C) of this section, times the sum of the district’s total taxable value plus its property exemption value.
(2) For districts with a class one effective operating tax rate that is greater than or equal to twenty and one-tenth class one effective mills as of the first day of July of the current fiscal year, the charge-off amount equals the applicable charge-off rate, prescribed in division (C) of this section, times the sum of the district’s recognized valuation plus its property exemption value.
If the difference obtained from the calculation is a negative number, the state share shall be zero.
(3)(a) For each school district for which the tax exempt value of the district equals or exceeds twenty-five per cent of the potential value of the district, the department shall calculate the difference between the district’s tax exempt value and twenty-five per cent of the district’s potential value.
(b) For each school district to which division (B)(3)(a) of this section applies, the department shall adjust the total taxable value used in the calculation under division (B)(1) of this section or the recognized valuation used in the calculation under division (B)(2) of this section by subtracting from it the amount calculated under division (B)(3)(a) of this section.
(C)The charge-off rate shall be as follows:
(1)In fiscal years 2010 and 2011, 0.022;
(2)In fiscal years 2012 and 2013, 0.021;
(3)In fiscal year 2014 and in each fiscal year thereafter, 0.020.
(D) The department shall use the information obtained under section 3317.021 of the Revised Code during the calendar year in which the fiscal year begins to calculate the district state shares under this section.
Added by 128th General Assembly File No. 9, HB 1, § 101.01, eff. 7/17/2009.
