Why won’t the renewal of the 2017 Mill Levy Override increase my taxes?
Greeley-Evans School District 6 is seeking to continue collecting the 10 mills on residential and commercial property tax approved by voters in 2017. This is NOT an increase in the mills collected and will NOT raise taxes.
Why are some opposed to this measure saying it will increase taxes?
District 6 is not seeking additional mills through this renewal measure, so the measure itself will not increase property taxes. Some residential and commercial property owners will see property taxes increase because of an increase in property valuations, as determined by the Weld County assessor.
What is the difference between a Mill Levy Override and a Bond Issue?
A Bond is the issuance of debt (like a mortgage) that must be repaid over time. The repayments come from a voter-approved increase in property taxes.
A Mill Levy Override (MLO) is a voter approved property tax that “overrides” the state funding formula to provide additional revenue for operations.
How much will this Mill Levy Override cost me?
For a homeowner that has a residential property with an actual value of $400,000, the homeowner will pay $278.05 annually for the Mill Levy Override.
Commercial property in Colorado is taxed at a much higher rate than residential property. For a person or entity that owns a commercial property with an actual value of $1 million, that property owner would pay $2,900 annually in taxes for the Mill Levy Override.
I thought the marijuana tax was funding public schools. Why can’t school districts just use that money?
The education portion of money collected through the marijuana tax goes to Building Excellent Schools Today, a competitive grant fund that all school districts throughout Colorado can apply for. This grant DOES NOT fund a school district’s operating budget, but is for one time capital construction and maintenance projects. District 6 has been successful getting a few BEST grants to pay for a portion of the roof replacement or repair, but the district is required to provide matching funds to receive these grants. The matching funds are paid for through the money collected from the 2017 Mill Levy Override.
Will this tax go on forever?
No. The tax will sunset in 2033. The Board of Education directors at that time will have to decide whether or not they will ask voters to extend the Mill Levy Override beyond the sunset date.
Who gets to vote on the renewal of the 2017 Mill Levy Override?
Registered voters who live within the boundaries of Greeley-Evans School District 6 will get to vote on this measure in November.
When will ballots go out for the 2022 election?
The November 8 general election will be an all-mail-in ballot election in Colorado. Ballots will be sent to registered voters around October 15.