Changes in Tax Rates
The Washington State Legislature has placed new limitations on what school districts can use local levy money for, and made significant changes to K-12 education funding. All of these changes take effect in 2018 and impact local property taxes. The Legislature is increasing statewide property taxes by an average of 81 cents per $1,000 of assessed value in order to help pay for teacher salaries and other basic requirements. However, local school levy tax rates are decreasing to $1.50 per $1,000 of assessed value. This means that you should expect to see a dramatic drop in your local property taxes!
2018 Tax Rate = $5.03
- M&O Levy Rate = $3.76
- Bond Rate = $1.27
2019 Tax Rate = $2.26
- Educational Programs Levy Rate = $1.50
- Bond Rate = $1.27
The Educational Programs Levy rate is $1.50 per $1,000 assessed value and is a decrease of $2.77 from the previous tax rate!
2018 Educational Programs Levy Quick Facts
A levy is a locally-approved tax based on property values. This is not a new tax.
The levy pays for day-to-day educational programs not fully funded by the State: instructional support, athletics, technology, student health and safety, and much more.
Money from the levy accounts for about 20% of the district’s General Fund budget.
The proposed levy rate of $1.50 in 2019 is a $2.77 cent DECREASE from the rate tax payers approved in 2016.
The total collection amount for this levy will be $1 million.
Levies are for learning!
A levy is a locally-approved tax based on property values. Finley School District runs a replacement levy every two years. Levies make up approximately 20% of the budget for teaching Finley's students and operating our schools, above the costs covered by the State.
Levies bridge the gap between state and federal funding and the actual cost of operating a school district. Levies support basic educational programs and services. In Finley, levies support roughly 20% of our annual operating budget and support student learning, health and safety, athletics, activities, instructional support, technology, transportation, operations, and maintenance. Levy dollars pay for basic day-to-day operations of schools, such as: