3/8/17 – 5:30 A.M.

Elected officials in Fostoria have decided on a fiscal recovery plan. The Review-Times reports city council voted 5-1 to put a 4-mill property tax levy in front of voters in November. If approved, council expects the general fund to have a positive balance of more than $780,000 by 2021. The plan still falls short of a three-month carryover recommended by the state.

The 4-mills option was the lowest tax millage levy presented to council. Officials had also talked about 5-mill and 6-mill options to get the city out of the red. Auditor Steve Garner told council the city had a negative balance of more than $918,000 at the end of February.

A Fostoria resident with a home valued at $100,000 would pay an extra $140 per year if the levy passes in the fall.

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