What is the difference between the bond and mill levy?
Bonds are one-time investments in capital projects such building classrooms, buying technology and security equipment. Bond funds help renovate older schools to update them for 21st-century learning, build brand-new school buildings and buy additional educational technology.
A mill levy funds ongoing operational needs such as teachers, software, enrichments, and social-emotional supports.
A bond funds the building of schools and classrooms and the mill levy brings the classrooms to life.
What are bond and mill levy override?
Both a bond and mill levy are types of funding drawn from property taxes to support public projects and services. Thompson School District has the ability to ask voters for funding through property taxes increases. A portion of Loveland residents’ property taxes go into a state fund that supports education in Denver and across the state. Another portion of property taxes are for bonds and mill levy overrides that fund only projects and services in Denver.