CINCINNATI (WKRC) - Cincinnati Public Schools wants a better deal going forward when it comes to property tax abatements and the dollars that flow to the school district. A 20-year deal with the city expires at the end of 2019. Developers get tax abatements when building that then get passed on to homeowners or businesses that buy the property.
Currently, the city pays CPS $5 million a year for the tax breaks, and developers also pay a portion of property taxes. CPS wants a bigger chunk going forward. Any change wouldn't affect homeowners who already have abatements.
The city manager has indicated it's better for the schools to have a written agreement for the next 20 years, but that's only if CPS wants it.
"There's an uncertainty about the agreement because I don't think we're really sure where the city stands," said Carolyn Jones, president of the CPS Board of Education. "Our intent is to really partner with the city to make sure the next agreement is going to be a win-win situation for the district and the whole city."
The board says it will be moving quickly to meet with the city on reaching a new deal. No one from the city administration came to Wednesday evening's public meeting.
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