More changes to the Fostoria fiscal recovery plan - News, Weather, Sports, Toledo, OH

More changes to the Fostoria fiscal recovery plan

(Source: WTOL) (Source: WTOL)
FOSTORIA, OH (WTOL) -

Another change has been made to the possible fiscal recovery plan in Fostoria.

At the end of February, four recovery options were laid out before Fostoria city council: three varying levies or cuts to police and fire positions.

Last week, the council decided to move forward on a 4 mill levy, but now they have changed their minds.

At a meeting Tuesday night, the Fostoria City Council voted 4-3 to raise the millage of the proposed levy from four mills to six.

This would increase property taxes in Fostoria for five years.

The increase in millage means, if approved, owners of a $50 thousand  home would pay $105 dollars per year, while owners of a $100 thousand dollar home would be spending $210 a year.

According to our media partner the Findlay Courier, the increase was chosen because a 4 mill levy would not cover the difference in the budget that put the city on fiscal emergency status.

The third and final reading of the proposed financial recovery plan will be March 21 at 6 p.m.

If approved by council, the Financial Planning and Supervision Commission will vote on the recovery plan on  March 29.

It would then have to approved by Fostoria voters.

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