Three property tax levy renewals will appear before voters on the March 2016 ballot.
City council approved an emergency measure Monday to put the city’s general fund and garbage collection taxes along with the Oberlin Public Library’s 3.25-mill renewal levy before voters next year.
The levies will expire at the end of this year but generate cash through June 2016.
Oberlin’s 3-mill refuse levy will bring in $342,625 per year and the 1.2-mill general fund levy brings in $137,050.
The library’s five year levy generates $604,928 per year for current expenses. While the city and library are separate entities, Oberlin council acts as the library’s fiduciary agent.
The city’s two levies will cost $37 and $92 per year for every $100,000 worth of property you own.
Finance director Sal Talarico said if the levies are renewed residents will receive a 10 percent tax rollback from the state and a 2.5 percent rollback for owners occupying the homes they own.
“I have not heard any indications that they will eliminate the rollbacks completely,” he said.
If the city decided to replace the levies rather than renew them, residents would lose the rollbacks.
Valerie Urbanik can be reached at 440-775-1611 or on Twitter @ValUrbanik.