By Treasurer Suzanne Wilson
Question:
Did Vermilion Schools hit the jackpot with the Casino Tax?
There are four casinos in Ohio located in
Cleveland, Columbus, Cincinnati and Toledo. The casinos pay a daily tax of 33%
on gross casino revenue. Gross casino
revenue includes the total amount of money exchanged for the purchase of
tokens, tickets, chips, electronic cards and similar objects, less winnings
paid to wagers.
According to the Ohio Department of
Taxation, after the revenue is collected by the state, it is distributed in the
following funds: 51% to the County Fund; 34% to the County Student Fund; 5% to
the Host City Fund; 3% to the Casino Control Commission Fund; 3% to the Ohio
State Racing Commission Fund; 2% to the Law Enforcement Training Fund; and 2%
to the Problem Casino Gambling and Addictions Fund.
Semi-annual payments are distributed to individual
school districts based on their total student count. During Fiscal Year 2016,
almost $91 million dollars was distributed to traditional schools
($80,846,853), joint vocational & technical schools ($3,793,038), and
non-traditional school districts ($6,192,152).
The amount Vermilion School District
received in 2015-2016 from the traditional school fund was $96,446.00. The accumulative total to the Vermilion School
District since 2013 is $347,500. These
unrestricted funds are deposited into the district general fund to be used for payment
toward total operating expenses.
Answer to the Question:
Yes, Vermilion Schools won the jackpot!
Even though the amount of money received was small compared to the total
revenue collected for schools, we appreciate the additional funding that we
receive to benefit the students of Vermilion.
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