What is a mill levy override?
The Colorado TABOR amendment and Colorado law affect how school districts can get additional funds for operating expenses. School districts are allowed to add operational funds by asking voters to raise or override the Mill Levy. The Mill Levy represents a percentage of the assessed value of property. The amount of tax raised is limited by TABOR, and can’t automatically be adjusted to account for inflation or increased enrollment. Thus, school districts must go back to the voters on a regular basis to ask to override the mill levy to keep up with inflation and growth. When a school district has capital needs, such as refurbishing buildings or constructing new buildings, the funding mechanism is a bond issue. Bond issue funds can not be used for operational expenses, which includes salaries. Thus, RFSD is calling for both a bond issue and a mill levy override. Surrounding school districts, such as Eagle and Aspen, have passed Mill Levy Overrides recently, and it is important for RFSD to
