Bond / Mill Levy to Pay for School Repairs and Upgrades – Albuquerque Public Schools
Schools are on the ballot this fall.
In addition to voting for the mayor, city councilors and school council members, voters will decide on bond / factory levy financing that would pay for much-needed repairs and renovations to aging APS schools, as well as educational technology and safety measures.
If passed, tax rates would not increase and the funding would not go to directors’ salaries. All spending will be subject to independent monitoring and auditing to ensure that taxpayer dollars are spent in a responsible and transparent manner.
Watch this video for more information on the election
What would factory bonds and fees be used for?
- Renovate and rebuild aging classrooms, gymnasiums and cafeterias
- Improve cooling and heating systems as well as air circulation
- Provide educational technology
- Improve school safety and security
- Repair leaky roofs
- Upgrade of bus and parent pick-up / drop-off areas
- Update of play equipment
- Save water and energy by installing synthetic turf pitches
- Make schools welcoming for all by adding wheelchair ramps and accessible washrooms
In addition, part of the funding will go to charter schools in Albuquerque (both local and state) and to help the city build a new aquatic center to serve students in the far northeast of the Heights. .
What are factory bonds and taxes?
General bonds and factory taxes are means of financing capital projects for public schools through property taxes.
- A bond is long-term financing, like a mortgage, and is amortized over several years.
- School districts use the term “mill levy” to refer to pay-as-you-go funding. The money is spent as property taxes are collected rather than being used to pay off long-term debt. A mill is a thousandth of a dollar, and a levy is the imposition of a tax, so a mill levy would be a property tax of one dollar on every thousand dollars of assessed property value.
Will the adoption of the bond / factory tax increase taxes?
No, there will be no tax increase following the adoption of the set of levies on APS bonds and mills. It’s just a continuation of the current tax rate.
Who can vote?
All registered voters living within the Albuquerque Public School District boundaries can vote in the November 2 election. This includes all of Bernalillo County and the village of Corrales in Sandoval County.
What’s on the ballot?
The ballot will consist of two questions. The legal wording is a bit confusing, but in summary, voters are beings called to vote for or against:
- General bonds that would provide up to $ 200 million for school district projects and
- A Mill Levy that would raise around $ 430 million over six years. Remember that this is about maintaining the current tax rate, not a raise.
When will the elections take place?
- Early voting began Oct. 5 at the Bernalillo County Clerk’s Annex, 1500 Lomas A NW.
- Other advance polling sites will open on Saturday, October 16. Early voting locations and times
- Election day is Tuesday, November 2.
Help the economy
A positive side effect of adopting the bond / factory levy package is its impact on the local economy. It is expected to generate nearly $ 200 million in construction activity in the first two years. Ongoing activity will include a steady economic influx into the IT, design, manufacturing and construction sectors through 2027. This continuous infusion of projects is critical to current / future local educational needs, to the economic health and local employment prospects.