There’s a good idea hidden inside the state of Ohio’s awful decision to hand $600 million to the Cleveland Browns for a privately owned stadium.
Could these funds help Ohioans instead of being handed to billionaire NFL owners?
The $600 million will come from $1.7 billion in unclaimed funds Ohio has been holding onto for 10 years or more, a fund that surprisingly totals $4.8 billion. That’s billion with a B, up from $3.2 billion in 2020.
And to be fair, taxes generated by the Browns’ new domed stadium will be earmarked to repay the $600 million long-term plus some interest, a fact often lost in recent political debates.
Under the new state budget, the remaining $1.1 billion in unclaimed funds could be used for other sports and cultural projects, potentially creating low-interest funding for stadium and arts projects statewide. (We still don’t understand why lawmakers ignored Gov. Mike DeWine’s more sensible plan to double corporate taxes on sports betting profits for stadium funding.)
But there’s a legitimate public policy question, too. How long must Ohio hold onto unclaimed funds owed to ordinary Ohioans who failed to cash a paycheck, close bank accounts or deposit apartment refunds, among a myriad of other reasons?
Is 10 years, as prescribed by lawmakers, enough time, presuming Ohio makes proper efforts to notify people? It’s not unreasonable to us.
More importantly, how could Ohio better spend this long-term unclaimed money to help its citizens?
Here are some of our ideas.
Give ordinary Ohioans tax refunds
How about income tax refunds to those earning less than $100,000 per year, as funding allows? Those people will not benefit from the state’s new 2.75% flat tax cut for those earning more than $100,000. Ohio’s average household income is $67,769, per the U.S. Census Bureau’s 2023 American Community Survey. Our lawmakers love reducing income taxes, after all.
Lower property taxes
Restoring the state’s role in paying for property tax credits, a practice stopped for new levies in 2013. This is a key reason your property taxes are rising more quickly and homeowners are paying a greater share of property taxes. As we’ve reported before, residential and agricultural property owners now pay 66% of all school property taxes, up from 48% in 1991. That’s because Ohio no longer pays at least 12.5% of your property taxes.
Support efforts to tame real estate prices
Increased funding or support for more affordable housing to increase supply and decrease pressure on rising real estate prices and property taxes statewide. This could also decrease homelessness, which has reached record levels in Columbus, and improve our neighborhoods. A recent report found that Columbus has 25 affordable housing units available per 100 extremely low-income households, compared to 31 in San Francisco and 34 in New York. A lack of newer and affordable housing also exists in rural areas of Ohio, where the population is shrinking.
Help young Ohioans afford college
Increase financial support for college students, especially those who may no longer qualify for assistance due to federal changes for student grants and loans. Based on the approval of President Donald Trump’s budget bill last week, it appears future students will have fewer opportunities to obtain financial aid. That could mean fewer college students during a time when many small Ohio universities are confronting enrollment concerns. We need smart Ohioans to join our workforce.
Ensure Ohioans don’t go hungry
It’s hard to believe, but true. Food banks are busier now than during the COVID-19 pandemic. At the same time, they also face uncertainty from federal and state cuts. As reported earlier, the Mid-Ohio Food Collective experienced a 38% increase in demand from 2022 to 2024, making last year its busiest ever. Surely, we all can agree that feeding people is good for our community and economy.
Help students thrive
There’s also a lot of hungry kids in our schools. A mere $33 million would allow Ohio to tap into a federal program allowing free lunches and breakfasts for all students in the building if at least 25% of students come from low-income families. Countless studies show children learn better when they’re not hungry.
Share your ideas
There’s likely no end to ideas for funding critical needs in our state, including mental health and addiction services, improving daycare offerings, making transportation easier and more affordable and offering job training and education opportunities.
We welcome your ideas at letters@dispatch.com.
There’s a better way to spend unclaimed funds. It’s a matter of priorities.
This editorial was written by Dispatch Executive Editor Michael Shearer on behalf of the editorial board of The Columbus Dispatch. Editorials are fact-based assessments of issues of importance to the communities we serve. These are not the opinions of our reporting staff members, who strive for neutrality in their reporting.
This article originally appeared on The Columbus Dispatch: 7 ways Ohio could spend unclaimed funds to help citizens instead of Cleveland Browns | Our view
Reporting by Columbus Dispatch Editorial Board / The Columbus Dispatch
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