School districts can use MLO funding for ongoing expenses, such as teacher and staff salaries, technology upgrades and more.
“The mill levy refers to the rate charged for property taxes. The state sets the mill levy in each school district and that money pays for a portion of schools’ base operating budget, with the state covering the rest of the cost, according to Colorado’s school funding formula.
Districts that want to collect more money on top of that rate must ask voters for approval first. This is called a mill levy override.
The money generated from this tax stays in the community and goes directly to the school district. School districts have to tell voters how they’ll use the money, such as to raise teacher pay.
There is a limit on how much districts can raise their mill levies, even with voter approval. That’s based on a percentage of their total state funding.”