The Toledo-Lucas County Port Authority board voted today to put renewal of the agency's 0.4-mill levy on the Nov. 5 ballot.
The levy generates about $2.1 million in annual revenue for the port authority, and now costs $6.60 in annual tax for the owner of a house valued at $100,000. The port authority will obtain new certifications from the Lucas County Auditor's Office for the renewal.
The agency uses levy funds primarily for facilities improvements, often as the local match for state and federal grants, and for its community economic development program. Recent projects undertaken with levy money include acquisition and cleanup of the former Jeep factory site in central Toledo and the cleanup and construction of a new bulk-materials terminal on the former Gulf Oil refinery in East Toledo.
Voters last renewed the port authority levy in 2008, and the proposed renewal also is for five years. As a renewal, it remains based on previous property values, rather than updated ones as would occur with a levy replacement.
With other recent votes also having been renewals, property values for the port levy are based on 1994 assessments.
Because of the agency's independent taxing authority, only the single resolution was necessary to put the levy on the ballot, instead of the two typically required by most agencies.
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