Additional Golden Pennies

Additional Golden Pennies

The current finance system requires school districts to seek voter approval in setting the maintenance and operation tax rate above $1.04. Legislation is needed which grants school boards the discretion of two additional golden pennies without voter approval.

• The state has removed individual school district authority to establish their maintenance and operations tax rate in a manner consistent with other governmental entities. The District requests that locally elected school boards be allowed to set their own maintenance and operations tax rates above $1.04 without being required to seek voter approval through a Tax Ratification Election (TRE). This would allow locally elected school boards to consider moderate increases to the tax rate within the effective tax rate calculation as is afforded to cities, counties and other taxing jurisdictions. This would provide moderate increases in local revenue to fund mandated services and needs of the district.