Trojan Estate Thu, 29 Apr 2021 08:13:44 +0000 en-US hourly 1 Trojan Estate 32 32 Payment of property tax Thu, 29 Apr 2021 07:47:06 +0000

The property tax is governed by decree n ° 3-95, taken on January 31, 1995 and published in the Official Journal n ° 21 on January 31, 1995.

The incidence of property tax is the taxation of properties located in the territorial district of each municipality, held on December 31 of each tax year. This means that any natural or legal person who owns one or more properties are taxpayers and that they are subject to the filing and settlement of this tax, to the exclusion of natural persons or exempt entities. Municipalities have the power to demand and collect payment of property tax from ratepayers and property owners in the territorial district of the municipality. The taxation year of this tax is the immediately preceding year; the property tax generated in 2020 must be canceled this year 2021. The payment of this tax can be canceled in two equal installments, each equivalent to fifty percent (50%) of the amount of the tax settlement. Taxpayers must liquidate before the Municipality, the first installment in the first quarter of the tax year, which means that by March 31 of this year, the taxpayers should already have complied with the payment obligation of the first part due.

The second installment must be canceled in the second quarter of the tax year, which means it must be paid no later than June 30.

It should be noted that taxpayers who liquidate and cancel the total payment of the property tax during the first quarter of the taxation year, will be entitled to a reduction of ten percent (10%) on the total amount of the tax. tax payable during the tax period. year.

You can consult your unpaid amount in terms of property tax, in front of the revenue service and / or in front of the corresponding service of the municipality located in the territorial district of your property.

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Homeowners stunned by hidden property values ​​in latest equity survey Thu, 29 Apr 2021 07:10:41 +0000

Homeowners are undervaluing their homes by £ 236.8 billion, according to a study.

Analysis by online real estate portal Zoopla, conducted as part of its inaugural Hidden Equity survey, found that almost half of UK homeowners (45%) who had their home appraised through a real estate agent or sold it to the over the past three years have said it was worth more than they thought – averaging £ 46,305.

In contrast, only a quarter said their home was worth less than they thought, with an average of £ 44,313.

When all the survey results are factored in, the net result is that the average UK home is worth £ 9,470 more than its owner thinks. Multiplied by the 25 million private homes in the UK, this indicates UK homeowners are sitting on the £ 237 billion in hidden equity.

For many homeowners, the disparity between perceived value and an actual valuation of a real estate agent was much higher. Nine percent of homeowners whose property was worth more than expected estimated it to be worth over £ 100,000 more.

This equates to over a million properties across the country with six digits of hidden equity.

For those who continued to sell their homes and benefit from their hidden equity, the unexpected windfall had a significant impact, with 81% of them saying the extra money “improved their lifestyle.”

Owners can check My house at, where they can find out their home’s value through an instant online estimate based on powerful market data. They can also track their home’s price estimate and access a timeline of their home’s sales history.

My Home also allows homeowners to track the estimated value of other homes in their neighborhood, as well as homes they might want to buy in the future. Zoopla encourages homeowners to get real estate agent appraisals of their home – the most accurate way to value a property – to see if they’re sitting on more equity than they realize.

Gráinne Gilmore, head of research at Zoopla, said: “Real estate prices have long been a hot topic and this new survey clearly shows that many homeowners could have a nice surprise if they check the current value of their property. House.

“The effects of the pandemic have been felt in the housing market, with many households reassessing how and where they want to live.

“The demand from buyers is booming, but it is currently not being matched by the homes being put up for sale. Homeowners who are considering relocating might be in pole position in their local market if they offer their property for sale, and might be ready to unlock some hidden equity. “

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House prices still below pre-financial crash highs in much of Britain Thu, 29 Apr 2021 06:51:31 +0000

Despite a booming property market and house prices currently hitting an ‘all-time high’, they still haven’t peaked before the financial crash in all but three parts of the UK, though the inflation is factored in, new data shows.

Research from Warwick Estates highlights land register data which shows average house prices in Britain currently stand at a staggering £ 253,382 – 34% above the market peak of £ 189,199 in September 2007 , before the worst housing market crash in recent times. brought the market to its knees.

However, while the market is currently turning red following the stamp duty holiday, research from Warwick Estates shows that it has not quite hit the same level as in 2007.

The company’s research shows that adjusting for inflation, the average house price of £ 194,764 before the financial crash would be equivalent to £ 276,250 in today’s market. This means that the current average house price of £ 268,291 is still around -3% below historic highs.

The North East is the region currently furthest from the pace from its pre-financial crash peak of £ 139,400. While house prices are currently 1% higher today at £ 140,606, they are actually -29% lower taking inflation into account.

Scotland (-17%), the North West (-15%), Wales (-15%) and Yorkshire and the Humber (-15%) are also home to some of the lowest real estate values ​​when the ‘we take inflation into account and compare them to their 2007 highs.

Currently, only three regions show higher average house prices compared to their 2007 highs and after accounting for inflation.

Before the financial crash, the average house price in London was £ 298,596 before the market crash. Today that has risen 69% to £ 503,308. Even taking inflation into account, current average house prices in London are 4% higher than the pre-financial crash peak seen in early 2008.

The East of England and the South East also saw an increase in stamp duties pushing house prices above their 2007 highs. Even after adjusting for inflation, the average house price is now 4% higher in the east of England and 2% higher in the south-east.

Emma Power, COO of Warwick Estates, commented: “The market is currently performing very well, with house prices reaching historic highs in all parts of Britain thanks to the further increase in stamp duty vacations.

“We are also seeing market values ​​hovering around 34% higher than their pre-financial crash peaks and therefore the overall market indeed remains very healthy.

“However, factoring in inflation, we have yet to see a full return to shape in all parts of Britain and, in fact, homes in just three areas are worth more than their peak prices. of 2007 taking inflation into account.

“That said, with the market moving at the current knot rate and likely to do so for the remainder of the year, it may not be long before the overall market breaks past the 2007 pre-crash financial highs. . “

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Capital calls: the awkward poker face of Powell Wed, 28 Apr 2021 20:48:00 +0000

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on Capitol Hill in Washington, December 1, 2020. Susan Walsh / Pool via REUTERS

Concise information on global finance.


POKER FACE. US Federal Reserve boss Jerome Powell keeps his cards handy. The central bank Wednesday maintained status quo on interest rates and $ 120 billion in monthly asset purchases, as expected. He was more optimistic about the economic outlook, but Powell declined to hint at his diminishing timeline. He has to stop playing poker.

Americans are once again feeling satisfied with the economy. The Conference Board’s consumer confidence index in April was at its highest level since February 2020. Meanwhile, the S&P CoreLogic Case-Shiller home price index jumped 12% in February, the fastest pace fast since February 2006.

Still, Powell said on Wednesday it was not time to talk about cutting bond purchases. This should happen when the Fed hits its twin target of long-term inflation of 2% and so-called full employment, the latter of which is a somewhat nebulous target to find out more.

If the economy continues to improve, the Fed could quickly start to appear too dovish. If it gives the market time to prepare, the transition to phase-out could potentially happen without the market blindly going all-in. (By Gina Chon)

On Twitter

Earlier in capital calls:

Shopify is speeding up to slow down learn more

Reya’s Mishcon IPO Needs Polite Investor Briefing Read More

Boeing’s long haul Learn more

Santander’s gloom in Brazil seems exaggerated Read more

Sony jars with market mood Read more

Reuters Breakingviews is the world’s leading source for financial agenda-setting information. As the Reuters brand for financial commentary, we dissect big business and economic stories as they spread around the world every day. A global team of around 30 correspondents in New York, London, Hong Kong and other major cities provide real-time expert analysis.

Sign up for a free trial of our full service at and follow us on Twitter @Breakingviews and to All opinions expressed are those of the authors.

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The Taper Next Door: Bank of Canada cuts bond purchases by 25%. Total assets decrease by 13%. Rate hikes progress, possibly in July 2022 Thu, 22 Apr 2021 06:22:30 +0000

The madness of housing is at the center of concerns.

By Wolf Richter for WOLF STREET.

The Bank of Canada, which already owns over 40% of all outstanding Government of Canada (GC) bonds – compared to the Fed, which holds less than 18% of all outstanding US Treasury securities – announced today that it would reduce by a quarter the amount of Government of Canada bonds it adds to its stack, from the current C $ 4 billion per week to C $ 3 billion per week as of April 26 .

In his statement, he pointed to the madness of the Canadian housing market – “we are seeing signs of extrapolative expectations and speculative behavior,” he said.

In October, the BoC made the first cut, reducing purchases of GoC bonds from C $ 5 billion per week to C $ 4 billion, and stopped adding mortgage-backed securities, including she had never bought much at the start.

In March, the BoC announced that it would unwind its liquidity facilities, reducing its total assets by about 17%, from C $ 575 billion at the time to C $ 475 billion at the end of the month. ‘April. And it progressed as planned.

The BoC cited the “moral hazard” associated with this central bank foolishness as one of the reasons for the unwinding of its liquidity facilities, which are now mostly repurchase agreements (pensions) and treasury bills. short term of the Government of Canada. Its total assets fell 13% over the past month, to C $ 501 billion on its most recent balance sheet for the week of April 14:

The total amount of assets has decreased as the BoC unwinds its liquidity facilities. The largest remaining categories are term pensions and short-term treasury bills. As they mature, the BoC gets its money back, but doesn’t replace those securities, and the balance goes down. Other asset classes like MBS, provincial bonds, corporate bonds, etc. – the lines at the bottom of the graph – have mostly been untied or are tiny.

The red line represents the stack of GoC bonds that continues to grow, but their growth will slow from C $ 4 billion per week to C $ 3 billion per week, starting next week:

The BoC also announced in the declaration that it would maintain its key interest rates, the overnight rate at 0.25%, the discount rate at 0.5% and the deposit rate at 0.25%.

But the rate hikes have been postponed until the second half of next year, and as early as July of next year.

Or maybe sooner or later: “In the current context, however, there is considerable uncertainty over the timing, especially in light of the complexity of assessing supply and demand that I have. mentioned earlier, ”explained BoC Governor Tiff Macklem. opening statement.

But the madness of the housing market in Canada was at the center of the concerns.

“The Bank will continue to monitor the potential risks associated with rapidly rising house prices,” he said in the policy statement.

“You won’t be surprised to learn that we’ve also spent some time discussing what’s going on in the housing market,” Macklem said in his opening speech. Here’s some informations:

“The pandemic has led to unique circumstances. With so many households working and studying at home, we are seeing a lot of people who want more living space. And interest rates have been unusually low, which makes borrowing more affordable, ”he said.

“We are seeing signs of extrapolative expectations and speculative behavior,” he said.

“Given the high levels of household indebtedness and the risks that households could oversize in the face of rising house prices, we welcome the recent proposal by the Superintendent of Financial Institutions to introduce a fixed floor for the rate. minimum qualification for uninsured mortgages, ”he said. .

“The new measures just announced in the federal budget will also help,” he said, including the 1% annual tax on vacant housing owned by non-residents of Canada.

“We are following developments in the housing market very closely, and will say more about that in our financial system review next month,” he said.

And for your amusement, here is the explosion in house prices in Toronto, according to the Teranet National Bank HPI, whose method (sales in pairs) is comparable to the Case-Shiller index in the United States. Over the past two years, the index has jumped 18% from already very high levels:

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Charlevoix officials reflect on future use of prime real estate | Featured-cvx Thu, 22 Apr 2021 05:52:00 +0000

As far back as many can remember, the city’s property at 229 Stover Road in Charlevoix has been rather unsightly.

Occupied by construction equipment and raw materials, the site is located at the corner of Ferry Road in front of the city’s boat launch on Lake Charlevoix.

The red circle indicates the location of the municipal facility at 229 Stover Road.

It is in the middle of some of the region’s main waterfront real estate; a few blocks west is the historic Belvedere Summer Club.

Needless to say, the next door neighbors don’t like it very much.

“Throughout my time here as City Manager, I have always had people complaining about the site,” said City of Charlevoix Director Mark Heydlauff.

establishment grounds

The municipal facilities at 229 Stover Road will be demolished in the coming months. It has attracted complaints over the years due to its industrial use in a residential and park area by the water. The city has not yet determined the future use of the land.

While less visually appealing, the property has in fact provided vital service for decades. It has been the headquarters of the Department of Public Works – the city team whose members clear snow in the winter, pick up garden clippings in the summer, and repair roads (among many other tasks). The neighborhood was once occupied by other industrial enterprises and a railroad ran nearby, but over time the area has evolved into residential housing and public parks, according to historical and city officials. But while the surrounding plots have turned into suburbs and playgrounds, the seat of public works has remained the same; serving as a desk, storage for snow plows, city vehicles, road salt, picnic tables and benches and many other items.

However, with the recent construction of the new public works facility on Carpenter Street, the long-standing headquarters on Stover Road will soon be vacated.

After the move to Carpenter Street was completed, city officials decided to demolish everything on the site and restore the land as much as possible.

The buildings at the site are expected to be demolished in the coming months. The work will include the removal of all existing structures and reclassification of the site to drain it properly and the installation of earth and grass seedlings, according to city documents.

At the end of April, the city announced sealed bids for the work, and at the end of March, opened five bids from northern Michigan construction companies. Bids varied widely, the lowest at $ 43,669 and the highest at $ 191,580. The city decided to award the project contract to Bolle Contracting, the company with the lowest bid.

Salt deposit

The city’s winter salt is stored at the Stover Road site. It is not yet known what environmental impacts (if any) the snowmelt mineral has caused on the property’s soil.

The city has indicated that it also has the option of covering part of the costs through a burn elimination grant through Michigan’s Ready-to-Use Community Redevelopment Program (for which the city has recently certified). Almost 20 years ago, environmental measures were taken to minimize pollutants that could have contaminated the land there, according to Heydlauff. Despite this, it should be considered a brownfield site for any future development effort.

With demolition on the horizon, city officials will have to figure out how best to use the land. Many suggestions have already been made on the future of this site, including housing, expansion of the park space, relocation of the skate park, expansion of the launch parking lot or sale. outright, as discussed at the April 19 board meeting. seek public input and plan a public engagement process to help build community consensus on the way forward.

City officials will consider the next step at the 6 p.m. council meeting on May 3 at City Hall.

sign of the times

Parking signs leaning against one of the buildings on the town’s Stover Road property. All items will be moved to the new facility on Carpenter Street.

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House prices in Flintshire fell 7.2% in February Thu, 22 Apr 2021 05:00:00 +0000

Home prices fell 7.2 percent in Flintshire in February, new figures show.

The sharp drop contributes to the longer-term trend, which has seen house prices in the region fall 1.1% annually – the worst in Wales.

The average house price in Flintshire in February was £ 173,252, according to land register figures – down 7.2% from January.

During the month, the situation was worse than in Wales, where prices fell 0.7%, and Flintshire underperformed relative to the UK as a whole, where prices did not fall. exchange.

Over the past year, the average selling price of property in Flintshire has remained stable, placing the area last out of 22 local authorities in Wales for annual growth.

Single-family homeowners had the worst results in Flintshire in February – they fell 7.3% in price, to £ 242,339 on average. Over the past year, prices have fallen 0.7%.

Among other types of goods:

  • Semi-detached: down 7.2% per month; down 1.4% per year; £ 149,233 Average
  • Terraces: down 7.1% per month; down 0.8% per year; Average £ 128,770
  • Apartments: down 6.7% per month; down 3.8% per year; Average £ 87,327

First steps on the property ladder

First-time buyers in Flintshire spent an average of £ 145,700 on their property – £ 1,900 less than a year ago and £ 16,100 more than in January 2016.

By comparison, former homeowners paid on average £ 194,300 in February, 33.4% more than first-time buyers.

How do property prices compare in Flintshire?

Buyers paid 3.7% less than the average Wales price (£ 180,000) in February for a property in Flintshire. Across Wales, house prices are low compared to those in the UK, where the average cost is £ 250,000.

The most expensive properties in Wales were in Monmouthshire – £ 303,000 on average and 1.7 times more than in Flintshire. Properties in Monmouthshire cost 2.8 times more than homes in Blaenau Gwent (£ 108,000 on average) at the other end of the scale.

The highest house prices in the UK were in Kensington and Chelsea, where the average sale price of £ 1.2million in February bought 13 properties in Hyndburn (£ 92,000 in average).


Average house price in February

• Flintshire: £ 173,252

• Wales: £ 179,861

• United Kingdom: £ 250,341

Best and Worst Annual Growth in Wales

• Blaenau Gwent: + 18.4%

• Flintshire: -1.1%

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Legislation Aims to Fix Stalled Fairness Efforts in Illinois Cannabis Industry | Chicago News Thu, 22 Apr 2021 02:57:31 +0000

Recreational marijuana has been legal in Illinois since January 2020, and sales have skyrocketed.

March saw the state’s highest cannabis sales to date. The Illinois Department of Financial and Professional Regulation reported sales topped $ 100 million (cannabis users in and out of state spent $ 109,149,355.98 on greenbacks for the drug. green leaf).

But people of color like Deborah Dillon continue to be excluded from the legal cannabis trade. Gov. JB Pritzker and supporters of the legalization law have vowed that Illinois will use decriminalization to usher in a new era of “social fairness,” reversing the harm caused primarily to people of color by the war on drugs.

“This whole debacle is benefiting the incumbents, the politically connected and the rich. There is no effort, no real effort for social equity. At all, ”Dillon said.

His name was on 11 of the more than 4,500 submitted to the state, each seeking 75 lucrative licenses for a cannabis dispensary.

The licenses were supposed to favor so-called “social equity” applicants from communities in distress or who had been affected by the war on drugs and were to have been granted in May 2020.

Twenty-one applicants got a perfect score and won a place in the lottery which will decide which entities are licensed and where. Dillon was not among them, although she said she was close.

And she might still have a chance.

The state has still not organized a lottery to distribute these 75 licenses. There are questions about the validity of the scoring process and frustrations that only “perfect” scores have changed. Only applicants with what Dillon called a “unicorn” – a controlling stake in a dispensary who is a veteran and who meets the criteria of social fairness – received full marks.

Rather than holding a lottery, contestants like Dillon were given the opportunity to correct “gaps” in the paperwork.

Dillon said after the many hours of sweat she put into the project, it was worth it, even though the process of changing the demand gaps is so difficult, she said it was “like picking fly excrement from a pepper ”.

Meanwhile, Illinois faces six lawsuits for the troubled process.

Pritzker’s Cannabis Control Advisor Toi Hutchinson acknowledges the “hiccups”.

“It was extremely difficult to try to dismantle what is so incredible, for lack of a better term, built into the system. But I believe when all of that is done, we’ll have the most diverse property in the country, ”Hutchinson said. “We just have to get through the hardships of putting it all in place, litigating, passing laws, correcting and fine-tuning and making sure that we celebrate the fact that here, in Illinois, we’re not arguing over whether to do it, we’re discussing what more we can do and how we need to fix it. “

Yet a legislative solution has so far proved elusive, despite two previous attempts.

Now LaShawn Ford Representative D-Chicago has a new proposal, House bill 1443, which aims to advance in the licensing of social equity pot.

Ford’s plan would allow existing applicants, like Dillon, to participate in a second lottery that would lead to the award of 110 additional licenses on top of the 75 currently in limbo. The plan also aims to correct the need for a perfect score, instead using a “cut-off score” procedure that would allow any application receiving 85% of the total points to proceed to the lottery stage.

“We are going to make sure that the people who should participate in this lottery have a real opportunity. And who are these people? The people hardest hit by the war on drugs, for whom the law was intended. And so I think we’re in good shape to make sure that this monopoly on the cannabis industry ends in Illinois, and it will be diversified due to the legislation we pass ahead, ”Ford said.

Hutchinson said the Pritzker administration had been involved in months of negotiations and never shied away from its goals of rectifying injustices against people of color and those who were once punished for consuming or selling a now legal drug. The governor has pledged to issue social equity licenses this year, she said.

“What we need to do now is make sure that there are people who are able to get those very first participation licenses coming out, anywhere really. I cannot wait for that day and I know that candidates who have waited and waited and believed and dreamed all this time also cannot wait for this day. And we’ll get there, ”she said.

While the current all-white titans of Illinois’ marijuana industry may have a head start, Hutchinson said the legal cannabis ecosphere is in its infancy, so it’s not too late. for future social equity licensees to be successful. She said the administration is committed to helping sustain and ensure their success with state backing, and what is crucial is that social equity owners and investors move forward before potential federal legalization.

But Dillon said she had issues with Ford’s plan and didn’t trust the process. She also doesn’t trust Illinois officials and their promises to investigate whether social equity goals worked as intended before issuing future rounds of licenses.

“If you can rig an app, you can certainly rig the result of a disparity study. Again, I’m from Illinois so I know how it’s going, ”Dillon said.

Dillon also said the IDFPR should not regulate dispensaries and much of the process; Rather, she said Illinois should have a commission made up of marijuana experts and contractors and people affected by past stricter drug policies.

Follow Amanda Vinicky on Twitter: @AmandaVinicky

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Real estate remains at the center of buyers’ concerns Wed, 21 Apr 2021 01:18:45 +0000

Although 75% of construction was affected last year, the real estate market remains attractive via virtual platforms


THE The local real estate market remained the focus of buyers’ concerns when the movement control ordinance (MCO) was implemented for the second time in the country.

Sheldon Fernandez, country manager of PropertyGuru Malaysia, said that although 75% of construction in Malaysia was affected last year, the country’s real estate market still has an appeal with buyers through virtual platforms.

“Our recent Consumer Report found that people’s lives have been digitized through MCO, with social networking platforms and online real estate portals. being their goal to stay active in the real estate market.

“The extended period of the AGC has also seen the growing popularity of virtual tours as one of the main tools for sellers and buyers, with one in three Malaysians expressing their intention to continue buying real estate this year,” a- he said during a roundtable on virtual media. screening hosted by PropertyGuru Asia Property Awards Malaysia 2021 yesterday.

Also in attendance were Jones Lang Wootton, Deputy Managing Director Prem Kumar and PropertyGuru Asia Property Awards and Events MD Jules Kay.

Prem said the country’s real estate market has proven to be quite sustainable, despite stable growth during the Covid-19 pandemic over the past 12 months.

He added that the pandemic was a blessing in disguise, as it brought the underlying problems in the real estate market to the fore. more attention from developers and government.

“This includes oversupply issues involving the office space segment. Now the developers on the business side have taken a few steps back and stop all new desktop development at this point and are focusing on other kinds of products that can sell and be sustainable and not turn into a white elephant, ”he said. he noted.

He also said affordable housing is receiving more attention as authorities and developers reassess measures to ensure consumers and developers can achieve a balance in terms of product offerings, as well as projections in the future.

Although the National Property Information Center (NAPIC) reported a decline in the entire real estate industry in 2020, Prem said the market has been in a downtrend since 2017 and 2018 due to the common problems.

NAPIC noted that the local proThe real estate market recorded a total of 295,968 transactions worth RM 119.08 billion in 2020, a decrease of 9.9% and 15.8% year-on-year respectively in volume and value compared to 2019.

Prem said the reduction in the number of transactions was not a sign of a potential market collapse.

“In fact, Covid-19 is not the only cause of the sluggish real estate market, but more due to supply and demand factors and problems with market concentration that had caused the problem.

“I think Covid-19 has opened the eyes of many stakeholders to how the market can be versatile and sustainable.

“As the real estate market readjusts, this will also lead to more stability in the real estate market in the future,” he added.

The next PropertyGuru Asia Property Awards (Malaysia) in September 2021 are expected to be held in a virtual or hybrid fashion.

Last year’s event took place virtually and was viewed over 516,000 times and reached viewers and real estate investors in over 75 countries.

Giving the program a more international reach, he said highlights from this year’s event will be broadcast on the Historical channel, the Official Cable TV Partner of the Property-Guru Asia Property Awards.

Those who win in the main categories will have the opportunity to compete in the 16th Grand Final of the PropertyGuru Asia Property Awards and win the title of “Best in Asia”.

Last year, i-Park @ Senai Airport City by i-Park Development Sdn Bhd won the title of “Best Industrial Development (Asia)” in the regional competition.

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Home to adopt income tax cut and school funding overhaul Tue, 20 Apr 2021 23:16:33 +0000

COLUMBUS – Lawmakers in the GOP-controlled Ohio House of Representatives set to pass a 2% income tax cut and nearly $ 2 billion school funding overhaul. dollars in their two-year version of the state budget.

The fate of this new six-year school funding formula is grim. Senate Speaker Matt Huffman R-Lima said he doesn’t like the price, and the GOP-controlled Senate is working on its own way of paying schools.

Even with the increased spending, nearly 100 school districts will lose money over the six-year period. Lawmakers added $ 115 million on Tuesday afternoon to make sure no district loses money in the first year, said Rep. Scott Oelslager, R-North Canton, who heads the House finance committee. .

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