The North­east­ern Local Schools is ask­ing vot­ers to approve a levy that they say would help the dis­trict reverse two years of deficit spend­ing.

The 2.95-mill, five-year prop­erty tax levy for oper­at­ing expenses will be decided by those going to the polls on Nov. 5, and would gen­er­ate approx­i­mately $650,000 annu­ally begin­ning in 2014.

Scholl offi­cials say the levy is needed to counter deficit spend­ing the last two school years when expenses exceeded rev­enue by $343,981 and $289,926, respec­tively.

The deficit spend­ing has cut into the district’s gen­eral fund carry-over which stands at $3.3 mil­lion

Mean­while, the dis­trict has not said it would imple­ment any imme­di­ate bud­get cuts if the tax issue is defeated.

If the levy passes, the owner of a $75,000 home would see a $77.44 annual increase in prop­erty taxes.

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