Did cities and counties respond to the school districts' mandatory
mill levy reduction by increasing their mill levies?
Assuming a typical
mill levy of 70, the tax per acre would be $0.288.
(21.) The amount of state aid allocated for local option budget purposes is equal to the district's local option budget
mill levy multiplied by the difference between the per-pupil assessed value at the 75th percentile minus [he district's assessed value.
These gains are especially important here, since additional revenue from the
mill levy that funded the coaching program depends on it "We get [funds] as we achieve," Hammond says.
Due to the
mill levy override approved in 2016, the fiscal 2017 audit posted a $27.6 million (2.9% of spending) operating surplus, leading to an unrestricted general fund balance equal to 10% of spending.
In addition, the district has a voter-approved 0.25
mill levy designated for art, music, and physical education instruction, choice programs, and career academies.
General fund revenue growth is expected to remain above the rate of inflation as the impact of modest enrollment declines are more than offset by the inflation-indexed
mill levy overrides and expected increases in state appropriations.
While the 10-year compound annual average growth rate (from 2006 to 2016) has been positive (1.2%), all of that growth has been from a
mill levy passed by voters that took effect in 2007.
The district's revenue base benefits from voter support for permanent fixed dollar
mill levy overrides approved in 1988, 1998, 2003 and 2005.
The limited tax bonds are secured by a 5
mill levy. Including the sale, the city expects to levy 1.39 mills, which is well below the cap.