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Edmonds School District

Financial Information

Education Levy

 

Replacement Levy

The levy is not a new tax. It renews an expiring tax that provides local funding for critical needs not covered by state and federal funding.

The Education Levy makes up 15 percent of the district’s current revenue. Levy failure will mean significant reductions in staff, programs, and services for students.

 

This is a replacement levy, NOT a new tax, and will keep a consistent tax rate.

 

Cost of Education Levy

 

Education Levy rate over time


The passing of the Education Levy would maintain a level tax rate of approximately $1.50 per $1,000 of assessed property value over four years.

Over the last four-year Education Levy, tax years 2019 through 2022, the district projected a rate of $1.50 per $1,000 of assessed property valuation. Exact rates will fluctuate slightly from projections, but the average Education Levy rate, including the 2022 projection, is $1.47 per $1,000 of assessed property valuation. This shows that in the past, actual levy tax rates have been lower than conservative projections.

In 2017-2018, the local levy made up nearly 23% of district revenues. With the Supreme Court McCleary Ruling and subsequent Legislative House Bill (HB 2242), the district rolled back the replacement levy to $1.50 per $1,000 of assessed value, down from $2.38 per assessed value.

 

How to calculate Education Levy cost on a $550,000 home

House with an assessed value of $550,000

$550,000 / $1,000 - $550

$550 X $1.49 (current Education Levy tax rate) = $819.50 per year
$819.50 / 12 months = $68.29 per month


$550 X $1.50 (proposed Education Levy tax rate) = $825 per year
$825 / 12 months = $68.75 per month

 

 

Overall Tax Rate


Historically, the district’s actual tax rates have been lower than conservative projections.

In the financial information shared as part of the voter-approved 2021 Capital Levy, the district projected an overall district tax rate of $3.36 per $1,000 of assessed valuation over the next six years.

Given the actual tax rate in 2021, the district now projects an overall district tax rate between $3.20 And $3.06 per $1,000 of assessed valuation between 2023 and 2026.

 

 

 

 

Where can I get information about property tax exemptions?

 

 

 

State law provides tax benefit exemptions for low income senior citizens and people with disabilities. In addition, low income home owners may be eligible for property tax deferrals.

 

 

For more information, visit the Snohomish County Assessor’s Office online at www.snohomishcountywa.gov/328/Property-Tax-Exemptions or call 425-388-3540.