Additional Types of Local Funding for Schools

It is important for West Clermont to diversify its local revenue base so the district is not solely reliant on property taxes.
Other sources of local funding include:

• Tuition - Districts can charge tuition for students placed by the courts or coming from other districts. This provides additional revenue to help cover the costs of educating these students.
• Interest on investments - Districts can earn interest income on their cash balances and investments. Higher interest rates provide the opportunity for increased interest earnings for the district. 
• Student fees - Districts can charge student fees for supplies, materials, activities, etc. This helps offset some of the costs borne by the district.
• Payment in lieu of taxes (PILOT) - These are payments made to the district, often by businesses, instead of paying property taxes. This provides a steady revenue stream to the district, unlike property taxes that can potentially be abated. 
• Rental fees - Districts can charge rental fees for use of their facilities by community groups and organizations. This generates additional income to support facility costs.

So while property taxes are the major local funding source, these other options give districts additional ways to generate local revenue to support their operations and avoid being completely dependent on property values and tax collections. Exploring and optimizing alternative funding sources can improve a district's fiscal health.