Schools across Cincinnati are losing thousands due to an appeal by Duke Energy

CINCINNATI - There was strong reaction Tuesday from local school superintendents after they received devastating news from Duke Energy.

The energy company recently announced they are reducing tax payments to school districts and municipalities throughout Greater Cincinnati.

Duke Energy is currently appealing its last property tax assessed valuation.

As a result, they are withholding about $20 million in personal property taxes.

Duke pays personal property taxes on a variety of items from polls and meters to transmission lines.

Superintendents from across southwest Ohio held a press conference to show a united front against the cuts. They question the timing of the decision since Ohio school districts are within days of finalizing their budgets.

"So it's time for us to stand up and say, 'No, we are not going to let this happen.' I think everyone here would agree with me on that. You cannot continue to balance your budgets on the backs of our children. All of our children in Ohio," said Eileen Cooper Reed, President of Cincinnati Public Schools Board.

Cincinnati Public Schools are looking at a loss per year of $7 million. Lakota School District estimates their loss at $1.5 million. Norwood School's Superintendent said the district will lose $256,000 after already having to layoff teachers and reduce services.

"So it is a direct impact to everyone of us here on the education of our kids that already is stretched far enough by increasing class sizes, reducing instructional opportunities, no longer offering classes, just a myriad of options that we have, we are already stretched to the bone on that," said Rob Amodio, Norwood Superintendent.

A spokesperson for Duke Energy said the company was not paying its fair share of property tax stating they were paying $40 million more than they should.

They've agreed to pay $20 million for the first half of the year and are now waiting to pay the other $20 million until a decision on the appeal to the tax commission.