Farmington Municipal Schools Two Mill Levy Election

Farmington Municipal Schools n Capital Improvement Renewal Election (Two Mill Levy) n Election Date - February 5, 2002 n For - Maintenance & Renovation n Major source of funds for facility maintenance

The Cost n Tax of $2.00 per $1,000 of assessed value (Approximately $67 a year for $150,000 home, but no net annual increase in school property taxes) n Continuation of tax already in effect (consecutively for 25+ years). n Last approved by the voters in a 1998 election.

Keeping a Levy in place is essential n Critical funds for school maintenance n Levy is an eligibility requirement for accessing NM Critical Capital Outlay funds. n FMS has received almost $4 million from these special State appropriations since 1995.

District Actively Manages Property Tax Rates n Two mill levy is currently $1.82 (down from the $2.00 approved in 1998 because of increases in property values) n Board is requesting increasing back to $2.00 ($.18 increase). n Board will reduce bond tax rate by actual or greater amount due to lower interest rates and growth in taxable properties. n Overall, no tax rate increase for school purposes.

Overall School Tax Rate Will Decline Residential Property Last YearThis YearNext Year Bond$8.70$8.23$8.00 Two Mill Levy$1.77$1.82$2.00* Operational $10.81$10.41$10.38 * Assuming voters approve continuation of mill levy.

Funding Information n Maintain excellent condition of existing buildings and grounds. n District facilities’ average age is approximately 35 years. n 14 of 18 schools are over 40 years old

Physical Condition Very Well Maintained n Consistent comments by citizens and officials suggest our facilities are remarkably well preserved. n Community support via this extended mill levy will insure that this continues into the future.

Additional Information n Of the $2.00 per $1,000 assessed value 1/3 is taxable. For example, approximately $67.00 will be paid on a $100,000 home.

District will receive approximately $1.5 million per year n From local and State of New Mexico revenues ($1.2 million plus $300,000 State matching) n NOTE: All money generated by the Mill Levy will remain within FMS District n Nearly $6.5 million generated from this election cycle (4 years, )

Proceeds will help provide for n General upkeep of all facilities n Roof repair/replacement n New equipment u Furniture for schools and support departments u Band equipment u Activity Busses

Other Projects n General contracted services n Fire extinguishers n Boiler inspections n Safety requirements n Land Purchases

Maintaining Grounds n Paved and landscaped areas n Physical education & athletic facilities for school and community use

Approximate Allocation of Mill Levy Funds ( ) n 12% for contracted services for improvements to buildings and grounds n 29% for supplies and materials for buildings and grounds n 30% dispersed to schools for individual building needs

Continued Allocations n 28% for new equipment including technology n 1% for general contracted services

If you have questions - Please call n Mr. Tom Sullivan, Superintendent n Mr. James Barfoot, Executive Director of Support Services n Mrs. D’rese Sutherland, Executive Director of Finance

Remember n Come out and vote on Tuesday, February 5, 2002 n The continuation of this mill levy insures the continued quality of education that Farmington’s children need and deserve