Stow, OH – The Stow-Munroe Falls City School District is considering placing a property tax levy on the November ballot as officials warn of a looming cash shortfall that could leave the district without enough funds by 2028.
Interim Treasurer Ira Hamman outlined the urgency during a recent Board of Education meeting, describing a growing need for new revenue to stabilize the district’s finances.
Hamman presented a stark cash flow chart, revealing that without additional funding, the district will run out of cash in just over four years. This forecast has led board members to consider a new property tax levy ranging from 3.0 to 5.5 mils to replace the current 3.24-mil levy that expires next year…