Franklin School District 162 - N Proposition No. 1
Replacement of Expiring Educational Programs and Operation LevyThe Board of Directors of North Franklin School District No. J51-162 adopted Resolution No. 479, concerning a proposition to finance educational programs and operation expenses. This proposition would authorize the District to meet the educational needs of its students by levying the following excess taxes, in place of an expiring levy, on all taxable property within the District, for support of the District’s General Fund educational programs and operation expenses not funded by the State of Washington: CollectionYearApproximate Levy Rate/ $1000Assessed ValueLevyAmount2019$1.50$1,850,0002020$1.50$1,900,000all as provided in Resolution No. 479. Should this proposition be approved? Levy Yes Levy NoNorth Franklin School District Explanatory Statement This proposition would allow North Franklin School District to replace an existing maintenance and operation levy that will expire after calendar year 2018. The proposed two-year replacement levy would authorize collection of taxes to provide $1,850,000 in 2019 and $1,900,000 in 2020. The tax levy rate required to produce these levy amounts is estimated to be $1.50 per $1,000 of assessed value. Taxes collected by the proposed levy, together with State levy equalization money that is contingent upon passage of the levy, will provide approximately 12% of the District’s General Fund budget.
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