MREA released today highlights of the K-12 Omnibus Bill for funding, taxes and policies. Here’s what you need to know regarding taxes: (View all the statewide levies and statewide levy changes).
- General Education Levy (GEL) established to raise $20 million beginning FY ’15
Statewide property tax impact of $20 million
- Operating capital levy reduced 23% with a levy/aid mixture
Statewide property tax impact of a $23.7 million reduction
- Safe schools levy increases $6 per pupil, expands uses to security enhancements, school climate improvements, and collaborating and co-location of services with mental health providers.
Statewide property tax impact of $3.6 million
- Cyrus and Morris school consolidation allows Cyrus Board to levy to demolish Cyrus school.
Statewide property tax impact of $85,000
- K-12 Conference Omnibus Education Bill State-Wide Levy Changes
Statewide property tax impact of $0
- Operating Referendum Equalization and related changes in tax bill
Statewide property tax impact of a $60.5 million reduction in FY ’15
- Boards set the first $300 of Operating Referendum equalized at $880,000 RMV per APU (now the 1st Tier of equalization)
- 100% of school districts qualify for the first $300 of equalized levy. Boards can under levy any or all of this $300.
- 2nd Tier equalization up to $760 in operating referendum equalized at $510,00
- 3rd Tier (new) equalization up to $461 (25% of cap $1,845) equalized at $290,000 of RMV per APU
- Metro district boards can set a Location Equity Levy up to $424 that reduces their voter approved operating levy by the same amount.
- Greater Minnesota School Districts over 2,000 students can set a Location Equity Levy up to $212 which reduces their voter approved levy by the same amount.
- Boards can set these Location Equity Levies without voter approval.
- 100 school districts in the state qualify for the LEI Levies
- Boards must pass a resolution by June 30 to reserve the right to seek voter approval for increases in referendums in November 2013. MSBA has sent out a model resolution.
Read highlights of the K-12 Omnibus Bill for funding.
Read highlights of the K-12 Omnibus Bill for policies.