This announcement from Duke Energy sounds like good news for school districts but the tax money they are expecting they might not be able to spend.
Yes, Duke Energy Ohio has reversed it's decision to withhold millions of dollars in personal property taxes they felt they were over paying. They will pay a portion of it back, so schools that were in jeopardy of not receiving any money from Duke Energy will receive some.
Because this is still an appeal process, Duke could get the money back if they win according to Pat Hoffmann, Duke Energy Ohio Spokeswoman.
"That's how the system is set up, is overpayment if assessment changed, overvalued they pay us plus interest, if it goes other direction, they will pay us plus interest," said Hoffmann.
Not the good news schools were looking for, especially in Norwood, where Superintendent Rob Amodio says the district is close to being in a deficit.
"So it's almost like it has to sit," said Amodio. "We might have to give it back. Appreciate the measure whether it's 1 dollar or $300,000 dollars it comes out of education of my children."
Jonathon Boyd Chief Financial Officer for Cincinnati Public Schools says the board will decide what to do with the expected two million dollars they will get back for the rest of this year.
Cincinnati Public Schools are still looking for a million dollars left to cut in their budget before the end of summer.
It could easily be three to four years as part of the appeal and that's if they don't take it to court.