Financial Impact Calculator
During the years-long planning phases for Heath Hills, Heath Mayor Johns repeatedly dismissed Granville School's financial concerns, telling Granville representatives Those are Your Problems.
Under the current agreement, Heath Hills homeowners will pay a special charge of up to 7.5 mills to fund Heath's own city services. Heath "intends" to share a small slice of that with Granville Schools - roughly $240,000/yr - which covers about 2% of the ~$12M/yr that it will cost Granville to educate these new students. But even that is not a guarantee.
The same trick applies to the 17-acre "school site." The land comes with a catch: Granville must pass a bond levy worth tens of millions of dollars - money the district doesn't have and voters won't approve - and start construction on M/I's deadline. When that doesn't happen, the land automatically reverts to M/I Homes and becomes up to 42 more houses. That's not a gift, it's a threat: build us a school at your expense, or we'll push even more unfunded students into your district.
Slide the "Homes" dial down to 504 to see the best case. 546 is the honest one.
Operating Budget (Annual)
≈$240k/yr at full buildout (2.25 mills); “intent” only, at Heath's discretion; expires after 20 years; +1 mill only if the new school opens.
Includes the 2.25-mill Additional School Payments as a 20-year commitment. These payments run only 15–20 years while operating costs are permanent, and the additional 1-mill × 15-yr portion is contingent on the new school opening — so it is shown as a memo above, not in this total. The July draft's school payments reduce the projected gap by about 2–3% — the headline shortfall above is essentially unchanged. Our estimate at full buildout.
Construction & Bond Impact (Annualized)
Even in the most optimistic scenario, Granville Schools face a significant shortfall. This gap will likely require new local levies (estimated at 10.66 mills operating + 4.05 mills for new buildings).
Heath's Side of the Ledger
Source: Baker Tilly Financial Summary, 7/13/2026The city's own advisor (Baker Tilly) published Heath's financing plan for the off-site infrastructure at the July 13 committee meeting. The numbers below come straight from that presentation — not our model.
- •General-obligation pledge: these are GO bonds — Heath's own general fund and income-tax revenues are pledged if TIF/NCA revenues fall short. The city's risk disclosure says so explicitly.
- •Tap-fee prepayments: ~$5.6M from M/I Homes ($11,120/lot), front-loaded at ~$1.401M/yr for 2027–2030 — but the bulk of repayment rides on TIF service payments and NCA charges over 35 years.
- •35-year debt vs. 30-year TIF: Heath's bonds mature in 2067 — five years after the TIF district expires. If development stalls, the general fund covers the gap.
- •The city's own advisor flags the risk: Baker Tilly lists development, construction, interest-rate, and liquidity risks. The 1.32x coverage and $13.9M surplus are projections, not guarantees.
Do you live in the Granville School District?
Use the calculator below to compute your annual tax increase
| Period | Total | Operating | Bond |
|---|---|---|---|
| 1 Year | +$2,317 | +$1,679 | +$638 |
| 10 Years | +$23,170 | +$16,790 | +$6,380 |
| 30 Years | +$69,510 | +$50,370 | +$19,140 |
Based on current sliders • 35% assessed ratio • No inflation included