Howland Local Schools saw a $780,000 drop in its most recent half-year real-estate distributions, Howland schools Treasurer Thomas Krispinsky reports.
One of the reasons for the reduction is the loss of revenue from RG Steel, which filed for bankruptcy protection earlier this year and laid off most of its 1,200 employees over the summer.
Krispinsky said other reasons are a ruling related to the bankruptcy of Delphi Packard Electric and two other businesses being granted tax-exempt status.
Those changes, coupled with losses in funding from the state and federal governments, have reduced the school district’s funding by $1.5 million for this school year, Krispinsky said.
The school district has an 8.1-mill, 10-year renewal levy on the ballot Nov. 6. It will raise $5,050,000 annually.