Montgomery County Details Property Value And Revenue Losses From May Storms
New numbers Monday from the Montgomery County Auditor’s office detail the financial devastation from the tornadoes that ripped through the Miami Valley last Memorial Day.
Montgomery County has seen lost property values of more than $46 million.
Following the May tornadoes, affected homes and businesses were eligible to have their property values lowered through a longstanding auditor’s office program.
But Montgomery County Auditor Karl Keith told reporters nearly a dozen communities county-wide are facing major storm-related revenue losses.
“This is spread across 11 different communities that were impacted there, four townships, seven cities,” Keith says. “And then, of course, there are corresponding school districts that are involved in this, too, and that equates to about a $1.7 million loss of property tax revenue.”
Keith says the lost revenue means county governments and school districts will have less money to operate with in the coming year.
Revenue losses for all Montgomery County school districts total nearly a million dollars.
Trotwood Madison City School District and Dayton Public Schools alone stand to lose more than half a million dollars.
Funds for the county’s Human Services Levy, Five Rivers MetroParks, the Dayton Metro Library and other groups will likely also be affected, according to the auditor.