What is The Mill Levy Override?

In 2008, the Colorado State government, faced with tumbling property tax revenues caused by a catastrophic collapse of the housing market, introduced the "negative factor". This mechanism permitted the State government to continue operating within the constraints of the Public School Finance Act of 1994. Unfortunately, the negative factor reduced State funding for education by $800 million per year. The State is the #1 source of education funding for our District.

Over the past decade, most of the School Districts in Colorado have compensated by passing a Bond and/or a Mill Levy Override. The 2018 Mill Levy Override Ballot Measure introduced by the Thompson School District is designed to pay for security upgrades, textbooks, curriculum, and salary increases to keep our District competitive with our neighbors.

Ballot Title and Text of Ballot Issue:

"SHALL THOMPSON SCHOOL DISTRICT R2-J'S TAXES BE INCREASED $13.8 MILLION ANNUALLY BY A LEVY OF UP TO 7.6 MILLS IN THE 2018-2019 BUDGET YEAR AND BY WHATEVER AMOUNT IS RAISED BYA LEVY OF 7.6 MILLS IN EACH BUDGET YEAR THEREAFTER BY THE COLLECTION OF PROPERTY TAXES FOR THE FOLLOWING EDUCATIONAL PURPOSES, TO BE MONITORED BY A CITIZENS' OVERSIGHT COMMITTEE:

• MAINTAINING CURRENT CLASS SIZES AND PUPIL-TEACHER RATIOS;

• ESTABLISHING THE DISTRICT AS A COMPETITIVE EMPLOYER BY INCREASING COMPENSATION TO ATTRACT AND RETAIN HIGH QUALITY EMPLOYEES;

• UPDATING TEXTBOOKS, CURRICULUM, MATERIALS, TECHNOLOGY RESOURCES AND INSTRUCTIONAL PROGRAMS; AND

• INCREASING AND UPGRADING STUDENT SECURITY IN SCHOOL BUILDINGS, INCLUDING EXPANDING THE SCHOOL RESOURCE OFFICER PROGRAM;

WITH A PORTION OF SUCH TAXES TO BE DISTRIBUTED TO THE DISTRICT'S CHARTER SCHOOLS IN ACCORDANCE WITH STATE LAW; AND WITH SUCH TAXES TO BE IN EXCESS OF PROPERTY TAX REVENUES THAT WOULD BE PROVIDED BY THE GENERAL FUND MILL LEVY PERMITTED UNDER STATE LAW WITHOUT SUCH INCREASE, BUT IN NO EVENT SHALL SUCH TAX INCREASE BE GREATER THAN THE AMOUNT PERMITTED UNDER SECTION 22-54-108, C.R.S., OR ANY SUCCESSOR STATUTE; AND WITH THE DISTRICT TO BE AUTHORIZED TO COLLECT, RETAIN AND SPEND ALL REVENUES FROM SUCH TAXES, TOGETHER WITH REVENUES FROM SPECIFIC OWNERSHIP TAXES ATTRIBUTABLE THERETO, AND THE EARNINGS ON SUCH TAXES AND REVENUES AS A VOTER APPROVED REVENUE AND SPENDING CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?"