Dublin Villager

Schools get unexpected $700,000 from county assessment fund

Dublin City Schools received nearly $700,000 from the Franklin County Real Estate Assessment Fund this week.

The office of Franklin County Auditor Clarence Mingo announced Aug. 11 it would give back $10.5 million to local schools, agencies and municipalities from the Real Estate Assessment Fund and Dublin City Schools got $693,334.

Money for the Real Estate Assessment Fund comes from a portion of property taxes set aside to pay for real estate appraisals.

A surplus built up during the triennial real estate appraisal process, a news release from Mingo's office said.

The surplus is being redistributed to local governments and schools in proportion to their tax bills.