What is a “Levy” and how is it different from a “Bond?
Educational levies are used for learning, bonds are used for building. Although districts do frequently find that they must supplement their educational programming budget through local levies, these cannot be used to make major building improvements. Bonds finance capital projects (such as school construction or purchase of equipment) over a ~20 year period. Levies are short-term, ranging from one to six years in length. They are also specific in nature. Educational program and operations levies fund 21 % of the district’s annual budget. They require approval every two to four years to sustain current educational programs and services for Tacoma District students.
