Over the last several weeks, Lucas County homeowners have been receiving updated valuations of their property which has led voters to ask: If Issue 24 passes, will the cost of this bond increase due to my changing property values?
As volunteers of the Toledo Lucas County Public Library, we welcome these questions to uphold our values of transparency! Again, Issue 24 is a bond issue that can only be used for infrastructure improvements to our countywide system.
The Library’s bond issue is for a set dollar amount of $153 million, which is written into the ballot language. This means that, even if property values rise, the Library can never exceed that dollar amount. The 1-mill bond on this year’s ballot is based on current property values, meaning that a homeowner of a $100,000 house will pay approximately $3 a month for the full 30-year duration of the bond.
For additional information about the Library’s bond (Issue 24), please visit our website below. Let’s continue to support impactful and valuable community organizations, like the Library, which returns its investment to Lucas County residents each and every day.
Learn more! (https://toledofol.org/bond)
Thank you,
Friends of the Library