The Franklin Reporter & Advocate Eight Villages, One Community
The $176 million Fiscal Year 2023 budget approved April 28 by the Board of Education contains good news for some township property owners.
A $1.4 billion increase in the township’s total property valuation – from $11,094,767,831 to $12,524,680,778 – has resulted in a slight decrease of the tax rate per $100 of assessed valuation from $1.39 to $1.25.
That means the owner of property with the average assessed value of $392,297 will have a 2022 tax bill of $4,920.71, down $18.76 from last year’s bill of $4,939.47.
Board business administrator Jonathan Toth said that owners of homes whose value is greater than the township average may end up paying slightly more in school taxes.
The budget approved by the Board on April 28 has some slight modifications from the budget discussed at the Board’s March 17 meeting.
The total tax levy is up $2,961,928, from Fiscal Year 2022’s $148,096,382 to Fiscal Year 2023’s $151,058,310.
