Olentangy Schools to seek 4.25-mill levy on March ballot for operating costs, new buildings

The Olentangy Schools Board of Education voted Thursday to ask voters for approval of a combined 4.25-mill levy for operating expenses and maintenance on the 2024 primary ballot, and to allow the district to issue up to $350 million in bonds toward the construction of five additional school buildings to meet its rapidly growing student population.

The levy is necessary to keep up with increasing enrollment, the Olentangy Local School District said in a news release Thursday night. More than 22,500 students from southern Delaware County and part of Franklin County attend Olentangy Schools' 27 current buildings, making it the fourth largest district in the state behind Columbus, Cleveland and Cincinnati city schools — and the district projects enrollment will rise 21% in the next 10 years.

A “yes” vote would authorize two levies combined into one 4.25-mill levy. The larger, a 3-mill operating levy, would collect about $19 million per year toward day-to-day costs such as staff salaries. The second, a 1.25-mill permanent improvement levy, would put about $7.9 million annually toward maintenance, repair and upkeep of facilities.

If approved by voters in the March 19, 2024, election, the levy would cost homeowners in Olentangy Schools $148.75 annually for each $100,000 of county appraised value, which will be based on 2024 home values, according to the statement.

Should the levy pass, property owners would first see the impact on their tax payments in 2025.

A "yes" vote would also allow the district to sell up to $350,000,000 in bonds to fund the construction of three elementary schools, a middle school and a high school. Bonds are essentially voter-approved loans that school districts use for expenses that require cash up front, such as construction projects. Investors buy the bonds, giving the districts cash to spend, and the school districts repay them over a set period of time with tax money.

School board members said in the statement that Olentangy is a destination school district that attracts residents to the area, and the levy is necessary for the district to continue to provide "exceptional" education to its students.

“The decision to place Olentangy Schools on the March ballot is not something the board takes lightly," Board of Education President Kevin O'Brien said in the prepared release. "This vote is a result of the transparent analysis and planning of our treasurer’s office, our operations team maintaining our current facilities and stretching the capacity of each school building, as well as mindfulness regarding our district budget."

bagallion@gannett.com

This article originally appeared on The Columbus Dispatch: Olentangy Schools seek 4.25-mill levy on March ballot, cite enrollment