Development News for Garfield Heights, Ohio

Garfield Heights Board Approves Tax Budget Amendment for Bond Refunding

The board is voting on resolution 2026-35 to amend the tax budget for tax year 2027. This amendment is necessary because Kaga County did not levy the taxes for the last year of the bond collection on the series school improvement series 2014 refunded bonds. The amendment will adjust the tax budget, previously approved in January, to reflect the amount needed for collection in tax year 2027. Schedule one details fund O2 bond retirement with school improvement purposes ending in 2025, and the collection year ending in 2026. A negative O2 fund balance of $450,158 will be collected from the county. The millage will be adjusted to 5.83 mills to collect approximately $3 million, accounting for a 92% collection rate for Garfield Heights City School District. The resolution will be submitted to the county for approval by the county budget commission, followed by action from legal counsel to proceed with the next steps for the upcoming fiscal year and the second half of tax collection year 2026.