The Roaring Fork School District Board of Education unanimously approved a new mill levy rate of 43.152 mills for the 2024 property tax year on Wednesday, marking a 3.24% increase from the 2023 fiscal year’s rate of 41.797 mills.

The mill levy directly influences the district’s capacity to fund critical educational needs such as teacher salaries, classroom resources, and infrastructure improvements. It also supports specific voter-approved initiatives that go beyond the basic educational framework, ensuring that the district can maintain and enhance the quality of education offered to students.

Moreover, the district is leveraging taxpayer contributions to fund significant projects like the construction of additional staff housing units. This initiative aims to provide affordable housing options for teachers and staff, thereby aiding in recruitment and retention efforts, crucial for the district’s long-term success.

Compliant with Colorado Revised Statute 22-40-102(6), the mill levy addresses the district’s needs against a backdrop of a 0.67% increase in property values for the 2024 fiscal year, bringing the total assessed property value to approximately $1.84 billion.

The newly set mill levy rate comprises several elements essential for the district’s operation and future planning. The general fund total program mill rate, vital for the day-to-day operations of schools, is set at 25.759 mills, generating nearly $47.41 million in revenue. Additionally, the mill levy for voter-approved overrides, crucial for funding beyond the basic educational programs, stands at 9.327 mills, bringing in nearly $17.17 million.

A significant change in this year’s levy is the increase in the abatement mill, which rose from 0.055 to 0.285 mills. This increase will allow the district to recoup $524,536 in previously abated taxes, ensuring a more solid financial foundation. The bond redemption fund mill levy also saw a slight adjustment, increasing to 7.781 mills to accumulate roughly $14.32 million, now including a 1.5% reserve aimed at securing financial stability in the face of economic fluctuations.

School board member Kenny Teitler commented on the financial management and its impact on the district’s funding, clearing the air for those in attendance.

“When property taxes increase, it does not change the amount of money the school gets; we get the same amount, and the state just backfills less,” Teitler said. “As property taxes have gone up, we don’t actually have more money as a district.”