This time of year, we hear the term “Revenue Neutral” thrown around a lot. The Ottawa City Commission is going to exceed the Revenue Neutral rate, the Franklin County Commission is going to stay Revenue Neutral, the USD 290 School District is planning to exceed Revenue Neutral. What does it all mean? It’s kind of complicated. Franklin County Clerk, Janet Paddock explains:
Let’s recap. Revenue Neutral is when a taxing entity budgets the exact same amount of property tax revenue, in dollars for the new budget as it did for the current budget. If they plan to use even one dollar more, they are required to hold a public hearing. You’ll hear lot more about revenue neutral hearings in the near future.
