Yes RE5J

Thanks to the hard work of many RE-5J has recently secured an additional $3.5Million in grants for bond projects. So where do we stand now? 1 in 3 dollars spent across our projects is free to taxpayers and does NOT have to be repaid!

Here is this years update about property taxes form your Weld RE-5J Treasurer. It is GOOD NEWS!

(FYI, The Johnstown Breeze was accidently sent last years letter not this updated one. Not their fault at all)

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Good News About Weld RE-5J School District Taxes

Each December, the school district must set its property tax rate for the following year. We set a fixed rate that is set by the state plus an additional amount to cover voter approved expenses. This additional rate fluctuates because we are authorized by our voters to only collect a certain total dollar amount. Specifically, we can collect the amount needed to cover our bond payments and for the Mill Levy Override (MLO) passed in 2020.

Because we are a growing area, new houses, businesses, and oil and gas production spread the responsibility for raising the required funds among more people and property. This year, primarily because of increased oil and gas production, the total value of all the taxable property in our district went up. This requires us to lower our tax rate for 2023 from a total of 50.1 mills to 45.7 mills. This is a decrease of about 10%. This should be welcome news to the taxpayers of our district.

It is also important to know that property is not taxed equally but varies based on the type of property it is. For example, if you own a home, you do not pay taxes on the full value of that home. The value is first subjected to an “assessment rate” which is set by the state. For 2023 that rate is 6.765%. In comparison, the 2023 rate for commercial property is 27.9% and for oil and gas it is 87.5%. So, you can see that while new houses in our area are helpful in spreading out the responsibility for these taxes, new commercial and oil and gas are even more helpful.

The current challenges around interest rates and inflation will no doubt affect the pace of growth in our area. Also, the growth will no doubt continue even if at a slower rate. So, while nothing is ever guaranteed, as new houses and commercial developments like Buc-ees and Ledge Rock come online, the potential certainly exists for further improvements in property tax rates in the years ahead.

Jeremy W Scott
Weld RE-5J Board of Education
Director District B & Treasurer

You are invited to the public open house at the brand new Elwell Elementary Thursday (9/15) from 4-6pm. Come in and see this amazing new school.

You are invited!

The new Elwell Elementary School is making huge progress!

The intentional design has many thoughtful details with almost not wasted space and a open and inviting layout. Expect many smiling faces this fall when the school opens!

Some real progress at the new RHS! Project continues to be on time and on budget!

While many other districts are dealing with large cost escalations in their projects, Weld RE5J is on time and on budget in everything we are doing!

Today the final beam was placed at the new Elwell Elementary! A big milestone in this project that continues to be on time and on budget.

Why do we need 5A?

Offer competitive pay so our best teachers stay and we can recruit more

Make our local schools safer and more secure

Help students be career ready with additional Career & Technical Education

Get students to school safely

Yard signs will be available at across from Pioneer Ridge at 3:45pm today!

What are the facts on 5A?

The State has withheld $31.5 Million over 10 years through the "Budget Stabilization Factor"

100 of 177 CO districts have an MLO

The MLO Sunsets after 10 years

All funds stay local

Cost is $3.73/month per $100,000 of home's value

Cost is lower for seniors who qualify for senior tax exemption

We currently have one of the lowest school district mill levies in the area

Need a yard sign? A volunteer will be across the street from the main doors of Letford at 3:45pm this afternoon!

Yard signs are going up to show support for 5A & 5B. Contact our team to get yours and show your support for quality education in RE5J!

https://yesre5j.org/contact/

Yes RE5J

Yes RE5J's cover photo