MPS proposes maximum levy increase
Nate Gotlieb / [email protected]
Updated: September 21, 2017 - 12:46 pm
Minneapolis Public Schools plans to increase its property tax levy for the 2018–2019 school year by the maximum allowed under state law.
The district currently estimates that maximum to be about 7 percent. At that level, the annual levy would increase about $13.5 million to $204.5 million.
The final levy certification is scheduled for a Dec. 12 School Board vote. Public comments on the levy will be taken in-person that night beginning at 5:30 p.m.
At 7-percent, the levy hike would generate approximately 24 percent of the district's total funding for 2018–2019. The levy provides funding to pay for existing annual debt service and allows for funding to pay legacy costs such as the Minneapolis Employees Retirement Fund.
Most of the increase, about $11.5 million, would go toward the district's debt service.
CLARIFICATION: An earlier version of this story stated that the maximum levy increase was 7 percent, but that figure remains an estimate.
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