2016 Local Levy Rate Set Below Voter Approved Amount

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[Ferndale, Wash.] The Ferndale School Board has set the rate for the last year of the 2016 local levy at $2.17 per thousand of assessed value. This amount will raise approximately $10.590 Million which is below the $15.360 Million authorized by voters in 2016.

The new local education funding model set by the Washington State Legislature is based on a rate per thousand of assessed value instead of a total dollar amount. Using the new model, school districts are now capped to $2.50 per thousand of assessed value or $2,500 per student FTE whichever is less.

The School Board selected the $2.17 rate based on community input. Specifically, the tax rate at $2.17 per thousand of assessed value will keep the total tax rate in 2020 at the same total rate projected during the 2019 bond discussions.

The 2016 Levy expires at the end of calendar year 2020. Voters will consider a renewal levy at $2.50 per thousand of assessed value in February 2020. That levy would go into effect in January 2021 and run for four years.