# Overall Levy Rate Down Due to Responsible Fiscal Management

• ### The overall levy rate for West Ada School District is decreasing in fiscal year 2021 due to the early repayment of and refinancing of school bonds.

The district has maintained the 14 million dollar levy over the course of the past ten years. Even though costs continue to increase we have maintained at 14 million.

What does this mean for a property assessed at \$400,000 by the county?

Plugin your home's value in place of the \$400,000 and do the following math:

\$400,000 minus the homeowner's exemption (half of your property's value up to a maximum of \$125,00) equals \$275,000.

Dividing \$275,000 by \$100,000 equals \$2.75.

\$2.75 multiplied by \$46.92 equals \$129.03 annually.

# Supplemental Levy Rate Continues Decreasing

• Voters first approved a \$14 million supplemental levy for 2013. At that time, the levy rate for the supplemental levy was \$131.00 per \$100,000 of taxable property value. At the end of fiscal year 2021, the supplemental levy rate was \$46.92 per \$100,000 of taxable property.

As the total value of property in West Ada School District continues to grow, the cost per \$100,000 has decreased. The increase in property value is from increased assessed valuation of existing properties as well as new construction. The levy rate is calculated by dividing the amount that voters authorized the West Ada School District to collect by the total value of the property in the school district.

Following are the supplemental levy rates and the market value by year for the West Ada School District:

### Year, Levy Rate and Total Market Value:

2020-21         .000469              \$29,272,136,258

2019-20         .000520              \$26,232,819,854

2018-19         .000643              \$21,501,631,945

2017-18         .000744              \$18,616,330,525

2016-17         .000825              \$16,966,638,966

2015-16         .000916              \$15,288,786,104

Source: Idaho State Department of Education
- Public School Finance - Tax Levy Data for Fiscal Year 2020

Source: Ada County Assessor - Levy Rates by Tax District