OAK HARBOR, Ohio (AP) — A northwestern Ohio school district stands to lose nearly a quarter of its yearly revenue after a nuclear plant saw its tax value lowered by the state.
The devaluation will cost the Benton-Carroll-Salem school district near Toledo $4.6 million from its annual funds.
In all, the plant will pay $6.7 million less in taxes.
The Ohio Department of Taxation reduced the value of the Davis-Besse nuclear plant for state tax purposes from $184 million to $49 million.
A spokeswoman for Akron-based FirstEnergy says the company sought the change to reflect its fair market value. The company has said it's considering closing the plant.
The school district says it's waiting to see if it will get any help from the state and whether it will need to seek a levy.