Mead School District 354

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Bond/Levy Information » New State Funding Formula

New State Funding Formula

The Mead School District is asking voters to consider two ballot measures in February 2018 - the renewal of our local Enrichment Levy and a Facilities Improvement Bond. With the new way Washington State is funding education, if both the bond and levy are approved Mead patrons will actually pay less in school taxes than they are currently paying. Here is a brief explanation of how this is possible.
In June of 2017 the Washington State Legislature, responding to a directive from the state supreme court, restructured how public education is funded. For years the state provided the Mead School District with approximately 72% of its budget and the Mead community, by approving school levies, has covered 22%. Beginning in 2018 (transition year) and continuing into 2019 (the first collection year of our renewal Enrichment Levy) the percentages change. In 2019 the state will provide 81% and our local levy will cover 13%. Federal funds provide the remaining 6%.
To help generate the revenue needed to expand the funds provided by the state, the legislature approved an increase in the state school property tax. Mead School District property owners currently pay a state school tax of $2.00 per $1,000 of assessed value. That is projected to increase to $2.82. To offset the increase, beginning in 2019, the legislature reduced the amount all school districts can ask local voters to approve via levies to $1.50. The levy Mead voters approved in February 2015 for collection in 2016, 2017 & 2018 has a rate of $4.01. The proposed renewal Enrichment Levy rate for 2019, 2020 & 2021 is $1.50 . . . a reduction of $2.51.
The following table shows the current (2017) and proposed (2019) school tax rates (levy, bond & state). It also shows the projected rate for 2018. NOTE: 2017 and 2018 levy and bond rates are identical - Mead voters approved both in February 2015. If approved on February 13, 2018, the new levy rate of $1.50 and bond rate of $2.32 will start in the 2019 calendar year.
Levy $4.01 $4.01 $1.50
Bond $1.27 $1.27 $2.32
State $2.00 $2.82 $2.82
Total $7.28 $8.10 $6.64