Property Taxes & Bond Information
Understanding Property Taxes
Property taxes are an important source of public school funding, and different property tax levies support different purposes.
School Finance Total Program Levy
Supports the District's day-to-day operating budget as part of Colorado's School Finance Act. The levy and tax rate are established under state law and certified annually. Colorado's school finance system combines local property taxes and state funding to provide the District's formula funding.
Bond Redemption Levy
Repays voter-approved bonds used to construct, renovate, and improve school facilities. The levy is certified annually based on the amount needed to make principal and interest payments on the District's outstanding bonded debt. As assessed property values change over time, the tax rate may increase or decrease to generate the revenue needed to meet the annual debt payment.
Mill Levy Override (MLO)
Provides voter-approved funding for specific purposes approved by the community. The levy is certified annually based on the amount authorized by voters. Because District 51's current Mill Levy Overrides are authorized as fixed dollar amounts, the tax rate is adjusted each year to generate the voter-approved amount as assessed property values change.
💡 Did You Know?
Bond funding can build schools and improve facilities, but it cannot be used to pay teacher salaries, utilities, or other daily operating expenses.