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Cost of additional Buckeye Lake Village levy clarified

NEWARK – Voters in Buckeye Lake Village are being asked to approve an additional five mill levy for five years for street maintenance, street paving, street lights and basic operational needs.

A flyer being distributed by the Committee for the Betterment of Buckeye Lake lists the cost as “.50 cents per $100 dollars of valuation for 5 years.” While that language is taken directly off the ballot, it is difficult to understand and calculate the amount that property taxes will increase.

Licking County Chief Deputy Auditor Brad Cottrell told The Beacon last week that one mill costs $35 per mill per year for a $100,000 market value property. Consequently, Buckeye Lake’s proposed five mill levy would cost:

Market Value Cost per year

$ 50,000 $ 87.50
$100,000 $175.00
$150,000 $262.50
$200,000 $350.00
$250,000 $437.50
$300,000 $525.00

No rollbacks are applied to new levies.

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