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CAUV Revision Impact on Madison-Plains School District Tax Collections. Prepared April 2013. Tax Collections. Tax Collection Changes. Why have Current Agricultural Use Values (CAUV) changed so much?. Question #1. http:// www.youtube.com/watch?v=mtYv_xZHh8E. Ohio Farm Bureau Video. - PowerPoint PPT Presentation
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CAUV Revision Impact on Madison-Plains School District Tax Collections
Prepared April 2013
Tax Collections
Tax Collection Changes
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
$5,500,000
$6,000,000
$6,500,000
$3,164,605$3,321,010
$4,070,445 $4,103,146
$5,382,248
$5,756,513$5,795,851
$6,033,438
COMBINED AGRICULTURE / RESIDENTIAL TAX REVENUES
CAUV RATE
CHANGE+$309 K
CAUV RATE CHANGE +
$222 K
8 MILL - 3 YEAR OPERATING
LEVY +$1.3 MILLION
5 MILL - CON-TINUOUS OP-
ERATING LEVY +$750 K
Question #1
Why have Current Agricultural Use Values (CAUV) changed so much?
Ohio Farm Bureau Video
http://www.youtube.com/watch?v=mtYv_xZHh8E
Ag Value Facts
Madison County Average Market Value / Acre = $4,500
Highest CAUV value in Madison County = $1,960
This equates to a 56% decrease in value for the most productive farm land in the county.
Average % of CAUV value to Market value in Madison County is 32%
QUESTION #2
If Farm CAUV values went up by 55% in 2011 then why did the schools tax revenues
only go up by 3.9% ($221,876)?
ANSWER #2:
Once a school levy is passed , the amount of money collected from that levy may not
exceed the amount received in the first year of collection.
(Except for Inside Millage, which is not Voted-in and New Construction)
Tax Payer Example: Homeowner
TAXYEAR
HOME MARKET VALUE
ASSESSED VALUE(-65%) MILLS
SCHOOL TAX
2010 $400,000 $140,000 X 31.53 = $4,4142011 $388,000 $135,800 X 27.43 = $3,724
Down: 3% Down:4.1m Down 16%Taxes on a $400,000 Market Value Home
Decreased On Average By :-$689.21
Tax payer Example: Farmer
TAXYEAR
FARMMARKETVALUE
FARM CAUV VALUE(-77%)
ASSESSED VALUE(-65%) MILLS
SCHOOL TAX
2010 $816,000 $183,600 $64,260 X 31.53 = $2,026
2011 $918,000 $399,840 $139,940 X 27.43 = $3,838
Up 13% Up: 78% Down 4.1m Up:89%Example assumes a 204 acre farm with the highest CAUV
values in Madison County.Market Value 2010 $4,000 / acreMarket Value 2011 $4,500 / acre
+$1,812
2011COLLECTIONS
2012COLLECTIONS
CHANGE IN COLLECTIONS
Farm Taxes $2,180,353 $2,941,822 $761,469 35%Homeowner Taxes $3,631,209 $3,091,616 -$539,593 -15%
TOTAL TAXES $5,811,562 $6,033,438 $221,876 3.9%
The 3.9% Increase in Taxes was due to the increase in property values times the inside millage rate of 5.1 mills. Taxes on Voted Millage Were NOT Increased.
TAX COLLECTION CHANGE
2011 2012$0
$1,000,000$2,000,000$3,000,000$4,000,000$5,000,000$6,000,000$7,000,000
$3,631,209 $3,091,616
$2,180,353 $2,941,822
Homeowner Taxes Farm Taxes