HERMITAGE – In a unanimous vote, Hermitage School Board adopted a 2019-20 budget that holds the line on property taxes.
The budget, which calls for $33,249,755 in expenditures, passed Thursday 8-0, with board member Robert McGowan absent. The spending plan keeps property taxes at 63.907 mills.
Under the budget, the owner of a property with an assessed value of $24,450, the district average, would again have a tax bill of $1,562.63.
The property tax revenues include additional income from an increase for the assessed property value of Shenango Valley Mall.
Two of Mercer County's three commissioners approved a new valuation for the mall in a June 6 vote. Commissioners Scott Boyd and Tim McGonigle voted in favor of the new value – $1.41 million for 2018 and $1.39 million for this year. The third commissioner, Matt McConnell, abstained from the vote because he is part of the mall's ownership group.
Hermitage city and school district had previously approved the new value figure.
The new valuation is slightly more than mall property owners won in a 2017 assessment appeal, and will result in about $90,000 in property tax revenue for the district.
Under the budget, expenditures will increase a little less than 2 percent from 2018-19.