Academy District 20 school board approves mil levy rate in response to higher evaluations

COLORADO SPRINGS, Colo. (KRDO) - When homeowners received their updated property evaluations last year, many had sticker shock and worried their taxes, especially school taxes would go up as high as their home values.

Thursday Academy District 20’s board of education certified its mill levy for 2024.The school board had two options on the table one that would provide a slight increase for taxpayers and one that could have provided taxpayer's some savings.

The board voted 4-1 to approve the first option.

The Board decided to keep its mill levy what is was, rather than an additional 5 million dollar reduction. What this means is the Academy District 20’s mill levy will be 47.867, rather than 46.058 that was proposed as the second option, according to a spokesperson from Academy District 20.

KRDO13 does not exactly what the increase will mean because the board and administrators were meeting in closed session at the time of publication. But what we do know is that it will not be anything close to the 30-50% that many homeowners feared, an official with District 20 said.

    School districts had a few weeks to come up with their tax rates this year, due to the new laws that the Colorado legislature passed in the special session back in November.

As soon as KRDO13 gets more specifics on how the rate will impact the average homeowner, we will post them here.