1. October 8, 2009

2.  Regular operating levy for current expenses ◦ Continuous period or limited period 1- 5 years ◦ Limited may be renewed or replaced  Renewal levy – taxes are collected at the effective rate of the expiring levy.  Replacement Levy – taxes are collected at the original millage rate(replacement levies give the district the benefit of growth in local property values over the life of the previous levy)

3.  Emergency levy ◦ Period of one to five years ◦ Proposes a specific dollar amount ◦ Millage rate increases or decreases as property values change ◦ Levy may be renewed at the same dollar amount

4.  Permanent Improvement levy ◦ The proceeds can only be used to construct, add to or repair buildings, lay sidewalks, build parking lots, and make many other such improvements of school property and assets. ◦ Permanent improvements are generally considered to be items lasting five years or more. ◦ Levies for general, on-going permanent improvements may be levied for a continuing period of time. ◦ Proceeds from permanent improvement levies cannot be used to pay current operating costs.

5.  Bond levy ◦ Remains in place until the debt is fully paid ◦ Provides local revenue for construction purposes ◦ County auditor determines millage rate needed every year to service the principal & interest for that year ◦ Proceeds cannot be used to pay current operating expenses

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