How mill levy overrrides and school bond measures work

Across the state, Colorado voters are considering two dozen measures this November to increase funding for school operations or construction and renovations. For voters wondering about the distinction between key measures, here is a brief explainer.

A mill levy override asks voters to approve an increase in the number of mills they pay for property tax. This allows the school district or governmental agency requesting the override to collect additional property tax dollars. A mill levy override can be used for operational expenses, such as programs and people (teacher salaries, for example).

In a school bond measure, a district may hold an election to authorize it to issue bonds to meet its capital needs (to build new schools, renovate schools, or upgrades to equipment such as heating or cooling systems). Bonds are voter-approved borrowing that can only be used for capital projects. They generate up-front dollars, which are repaid with interest through a property tax over time.

Here are additional sources for information about school finance.

https://www.cde.state.co.us/cdefinance/fy2018-19brochure

https://cosfp.org/wp-content/uploads/Legislative-History-of-MLO-in-Colorado.pdf

https://www.cde.state.co.us/cdefinance/officehours_sep_12

https://www.cde.state.co.us/cdefinance/officehours_sep_19

https://www.coloradokids.org/mill-levy-override-and-bond-elections-in-our-communities/