School Funding Remains Flat Even As Local Property Values In Hilliard Rise
You may have read that all Franklin County residents’ properties have been assessed this year. This part of a regular procedure ensures fair taxation based on area changes.
In Hilliard, residential property values have increased by an average of 34%. Residents may wonder if their taxes will increase at the same rate or if the school district will gain extra funds. The answer to both is no.
A law passed in 1976, House Bill (HB) 920, protects homeowners from significant tax increases by limiting growth on taxes. While rates went up, each property owner will be impacted differently. You can click here to access the Franklin County Auditor’s web page to search for your specific property.
HB 920l also prevents school districts from collecting extra revenue from rising property values unless approved by voters. An exception is the “inside millage,” or the 4.45 mills of property tax that Hilliard receives that grows with inflation, which may fluctuate with property assessments.
Hilliard maintains its reputation as an excellent place to live, and our top-rated schools contribute to this success. We remain committed to providing value for your investment in education. For questions about school finances, please click here for our Fiscal reports on the District web page.