PROPERTY TAX RATES ARE NOT EXPECTED TO INCREASE DUE TO THIS REFERENDUM. READ MORE.
The FY2020 Operating Levy Rate of $7.59376 included an amount for cash reserve. The FY2020 Management Levy Rate of $1.79784 funds district insurance and early retirement benefits. The District’s current need for Management Levy funds can be met with a reduced levy in upcoming years.
Thus, for FY2021 and some future period of time, those two levies can be reduced to allow for the Bond levy to be implemented. The FY2021 example shown above is only one possible way the actual makeup of these levels during the budget preparation in February/March. One levy rate may be decreased even more while the other not decreased as much, or vica versa depending on the true needs of the District. But, the board currently believes there will be sufficient flexibility in these levy components to offset the increased Bond levy of approximately $1.40.