April 4, 2023 Levy Transfer
The Board of Education has approved a debt service levy transfer on the April 4, 2023 ballot.
The Board of Education voted on Thursday, Dec. 15, 2022 to place a debt service levy transfer on the April 4, 2023 ballot. The no tax rate increase ballot item asks voters to allow the district to shift dollars to the operating fund to support efforts to recruit and retain quality staff.
Levy transfers are commonly used, no tax rate increase approaches that allow municipalities to responsibly address changing needs without increasing the overall tax rate.
LSR7 is asking voters permission to reallocate the funds it is collecting through the current overall property tax rate by shifting 20 cents from the debt service levy to the general operating levy.
How it works:
Our proposed ballot question:
- Increases the operating tax levy by 20 cents
- Decreases the debt service tax levy by 20 cents
- Ensures no net impact to the overall tax rate
Levy Transfers 101
Local funds make up approximately 2/3rd of the Lee's Summit R-7 School District budget.
Our current property tax rate ($5.31) includes an operating tax levy ($4.24) to fund operational expenses, such as teacher and staff salaries, supplies and equipment, and a debt service tax levy ($1.07) which pays down debt for items such as voter-approved bond projects.
When debt service levy transfers appears on the ballot, the district is asking voters: Can we shift existing tax contributions from one levy to the other without changing the overall tax rate?
Paid for by the Lee’s Summit R-7 School District – Dr. David Buck, Superintendent, 301 NE Tudor Road, Lee’s Summit, MO 64086