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District Finance Update Two Financial Goals Three Solutions The board of education is considering a 1% earned income tax that would only apply to wages and salaries. Retirees and those on fixed incomes would not be affected by the new tax. The goal is to find a more stable funding model for our schools that reduces the dependence on property taxes and eliminates the need for frequent operating levy votes. Because the state's school funding formula provides limited funding for Kings schools, the district must diversify its revenue sources in order to move away from the current three-year levy cycle. Lower Property Taxes for All Residents Earned Income Tax Immediate Property Tax Reduction With the approval of a new revenue source (earned income tax), there would be a simultaneous reduction of 1 Mill of property tax for Kings property owners. The second goal is to reduce the property tax burden for every homeowner in the district through a reduction of property tax millage, providing direct financial relief to all property owners. Future Property Tax Reductions The board is developing a resolution that requires an analysis of district finances annually that may provide the community with additional property tax reductions in the future. November 4, 2025 Ballot Issue Pending board approved the ballot issue for voter consideration that would establish a 1% income tax while simultaneously permanently reducing property taxes for all homeowners. Long-Term Financial Sustainability www.kingslocal.net

Kings Local School District
Earned Income Tax with a Property Tax Reduction

Overview - On the November 4, 2025 Ballot

The Kings Local School District Board of Education has fulfilled its commitment to make the 2022 operating levy last the full three years. The Board is now asking the community to consider a new funding approach that would create a more consistent revenue stream; resulting in less frequent levies while reducing property taxes for all homeowners.

 Why is this on the ballot?

  • Additional revenue is needed to maintain current student programs, staffing, and day-to-day operations.

  • The district is projected to have a negative cash balance by August 2027 without additional revenue.

    Approximately $9 million in reductions to staffing, programs, and operations will be necessary if the issue is not approved. 

 Financial Context

  • State funding is projected to be less in 2026 than 2025.   91% of Ohio districts receive more state funding per student than Kings.

  • The state funding formula requires Kings residents to fund our schools locally.  75% of revenue comes from local property taxes and property tax reimbursements.

  • Over the past two years, Kings has implemented over $8 million in expense reductions and new revenue, with minimal impact on the student and classroom experience. 

  • Kings spends less per pupil than 69% of Ohio school districts.

The Ballot Issue

If approved, the ballot issue would:

  1. Implement a 1% Earned Income Tax

    • Applies only to wages and salaries.

    • Does not apply to pension income, Social Security, disability benefits, capital gains, investment income, or other non-earned income sources.

  2. Reduce Property Taxes by 1 Mill for all homeowners.

The Board is committed to continuing to lower property taxes and will approve legislation requiring an Annual Property Tax Review. If cash balance thresholds are met, additional property tax reductions could occur in the future.

 Projected Impact if Passed

  • Provides funding for the duration of the five-year forecast without the need for another levy request during that period and potentially longer. 

  • Establishes a more sustainable funding model.

  • This approach reduces the reliance on frequent property tax levies and minimal state funding.   

  • Maintains current programming, staffing, and services.

If Not Passed

  • Approximately $9 million in budget reductions would be required.

  • Reductions would affect staffing levels, student programs, and operations.

FAQ

Frequently Asked Questions

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01 02 03 04 05 06 07 state funding advocacy $2,500,000 WHEN: 2024 & 2025; Ongoing Hiring Practices $1,055,000 WHEN: 2024 & 2025; Ongoing What has Kings done since 2022 to be Fiscally Responsible? Being stewards of district funds and finding ways to save money and/or increase revenue while providing a first class education to our students is an overarching goal and daily discussion at the District. The Treasurer and Superintendent created 2 community groups immediately after the 2022 levy passage to review potential cost savings initiatives and advocate for additional state funding. The groups met a total of 7 times in 2023 and will be reactivated in 2024. The District also met with the Ohio Department of Education's Chief of Budget & School Funding, a local state representative, the current Executive Director of the Ohio Association of School Business Officials, and the Alliance for High Quality Education to confirm our state funding and strategize how to best advocate for additional funding from the state. Highlights of the district's successes are below: Personnel Savings plan $1,512,000 WHEN: 2023-2025; Ongoing tax incentive agreement review $273,000 WHEN: 2023 Utility purchasing $340,000 WHEN: 2023 & 2025 health insurance initiatives $2,132,000 WHEN: Ongoing building budgets $2,132,000 WHEN: 5% in 2024 & 2% in 2025 $7.8 Million saved