LIMA, Ohio (WLIO) – Lima City Council held a special meeting to pass a resolution opposing House Bill 335, known as the "Property Tax Relief Now Act."
According to the city's finance director, Meri Foster, the bill would eliminate inside millage of property taxes for cities, counties and school systems as the state looks to reduce property taxes. The proposal would also shift local budgetary power to council budget commissions. Foster said the legislation would take away property tax revenues, and for Lima, the city would lose about $1.3 million annually — a loss she says would have consequences.
“Our property tax revenue is collateral for our government obligation bonds. What that means is that these bonds will become due and payable if property tax is removed and no longer available to us, and so, that hinders us tremendously,” says Meri Foster, Director of Finance, City of Lima.
After the meeting, Lima City Council President Jamie Dixon shared the reasons why council members felt the need to take a stance against House Bill 335.
“If House Bill 335 was to pass, some of the many projects that have put Lima on the map to be the number 5 of the places to live within Ohio, that could basically put a very hinder on us. We wouldn't see some of the projects that we are seeing in our downtown area. We will not see some of the infrastructure, jobs that's going on throughout our city but also the damage it could do to our school systems,” says Jamie Dixon, President, Lima City Council.
The bill is currently under review by the House Ways and Means Committee.
