(Hamilton County, Oh.) - Local school districts will soon receive their first share of money from Ohio's casinos.
Under the constitutional amendment to allow four casinos in Ohio passed by voters in 2009, the gaming facilities’ revenues are taxed at 33 percent. Some of the first financial benefits of that tax revenue is now being witnessed by schools and local governments.
Over $61 million in revenue is being distributed by the Ohio Department of Taxation. The department says $38 million will go to Ohio's schools and the rest is bound for cities and counties.
About $2.4 million will be split among schools in Hamilton County. Southwest Local Schools will receive $75,014.39 while Three Rivers Local Schools get over $41,158.41.
As part of the distribution to counties, Hamilton County will receive $926,641. The county distributions are made to all 88 Ohio counties based upon their population.
The school funding from casino taxes will be distributed semi-annually, with the second round due by August 31. County distributions are done quarterly. More information on the distribution of Ohio casino taxes can be found on the Ohio Department of Taxation website, http://www.tax.ohio.gov/government/Casino.aspx.