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Farmington Municipal Schools Two Mill Levy Election

Farmington Municipal Schools Two Mill Levy Election. Farmington Municipal Schools. Capital Improvement Renewal Election (Two Mill Levy) Election Date - February 5, 2002 For - Maintenance & Renovation Major source of funds for facility maintenance. The Cost.

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Farmington Municipal Schools Two Mill Levy Election

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  1. Farmington Municipal SchoolsTwo Mill Levy Election

  2. Farmington Municipal Schools • Capital Improvement Renewal Election (Two Mill Levy) • Election Date - February 5, 2002 • For - Maintenance & Renovation • Major source of funds for facility maintenance

  3. The Cost • Tax of $2.00 per $1,000 of assessed value (Approximately $67 a year for $150,000 home, but no net annual increase in school property taxes) • Continuation of tax already in effect (consecutively for 25+ years). • Last approved by the voters in a 1998 election.

  4. Keeping a Levy in place is essential • Critical funds for school maintenance • Levy is an eligibility requirement for accessing NM Critical Capital Outlay funds. • FMS has received almost $4 million from these special State appropriations since 1995.

  5. District Actively Manages Property Tax Rates • Two mill levy is currently $1.82 (down from the $2.00 approved in 1998 because of increases in property values) • Board is requesting increasing back to $2.00 ($.18 increase). • Board will reduce bond tax rate by actual or greater amount due to lower interest rates and growth in taxable properties. • Overall, no tax rate increase for school purposes.

  6. Overall School Tax Rate Will Decline Residential Property Last YearThis YearNext Year Bond $8.70 $8.23 $8.00 Two Mill Levy $1.77 $1.82 $2.00* Operational .34 .36.38 $10.81 $10.41 $10.38 * Assuming voters approve continuation of mill levy.

  7. Funding Information • Maintain excellent condition of existing buildings and grounds. • District facilities’ average age is approximately 35 years. • 14 of 18 schools are over 40 years old

  8. Physical Condition Very Well Maintained • Consistent comments by citizens and officials suggest our facilities are remarkably well preserved. • Community support via this extended mill levy will insure that this continues into the future.

  9. Additional Information • Of the $2.00 per $1,000 assessed value 1/3 is taxable. For example, approximately $67.00 will be paid on a $100,000 home.

  10. District will receive approximately $1.5 million per year • From local and State of New Mexico revenues ($1.2 million plus $300,000 State matching) • NOTE: All money generated by the Mill Levy will remain within FMS District • Nearly $6.5 million generated from this election cycle (4 years, 2002-2006)

  11. Proceeds will help provide for • General upkeep of all facilities • Roof repair/replacement • New equipment • Furniture for schools and support departments • Band equipment • Activity Busses

  12. Other Projects • General contracted services • Fire extinguishers • Boiler inspections • Safety requirements • Land Purchases

  13. Maintaining Grounds • Paved and landscaped areas • Physical education & athletic facilities for school and community use

  14. Approximate Allocation of Mill Levy Funds (1998-2001) • 12% for contracted services for improvements to buildings and grounds • 29% for supplies and materials for buildings and grounds • 30% dispersed to schools for individual building needs

  15. Continued Allocations • 28% for new equipment including technology • 1% for general contracted services

  16. If you have questions -Please call 324-9840 • Mr. Tom Sullivan, Superintendent • Mr. James Barfoot, Executive Director of Support Services • Mrs. D’rese Sutherland, Executive Director of Finance

  17. Remember • Come out and vote on Tuesday, February 5, 2002 • The continuation of this mill levy insures the continued quality of education that Farmington’s children need and deserve

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