Mill Levy definition

Mill Levy means an ad valorem mill levy (a mill being equal to 1/10 of 1¢) that may be imposed upon all taxable property by the District each year in an amount sufficient to pay each of the Districts’ operation, maintenance and debt service expenses. The maximum mill levy that the District may impose for any purpose, including debt service and operations and maintenance purposes, shall be sixty-five (65.000) mills (the “Mill Levy Cap”); provided, however, that in the event the method of calculating assessed valuation is changed by legislative action, the Mill Levy Cap provided herein will be increased or decreased (as to all taxable property in the District) to reflect such changes so that to the extent possible, the actual tax revenues generated by the mill levy, as adjusted, are neither diminished or enhanced as a result of such changes (“Gallagher Adjustment”). For purposes of the foregoing, a change in the ratio of actual valuation to assessed valuation shall be deemed to be a change in the method of calculating assessed valuation, and 2017 shall serve as the base year. The Mill Levy Cap is an enforceable limit on the mill levy that may be imposed by the District or any of the other Infrastructure Districts, for any reason. Variations in assessed valuation projections or in the phasing of Improvements may affect the mill levy from that set forth in the Financing Plan.

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Mill Levy means the rate of the tax, at a rate specified in the Hospital Funding Act, in terms of dollars per thousand dollars of net taxable value of property subject to taxation within the county;

Mill Levy or “Mill Levies” means, individually or collectively, as the context requires, the Operations Mill Levies and the Debt Service Mill Levies.

Examples of Mill Levy in a sentence

• Determination of whether to include the Network’s request in a Mill Levy Election is at the discretion of the District, unless required by law.

• Determination of whether to include the School’s request in a Mill Levy Election is at the discretion of the District, unless required by law.

• Toward that end, the 2016 Whole Child Mill Levy dollars will be used to support the socially and emotionally intelligent component of the Whole Child definition.

• Any Debt, issued with a pledge or which results in a pledge, that exceeds the Maximum Debt Mill Levy and the Maximum Debt Mill Levy Imposition Term, shall be deemed a material modification of this Service Plan pursuant to Section 32-1-207, C.R.S. and shall not be an authorized issuance of Debt unless and until such material modification has been approved by the City as part of a Service Plan Amendment.

• The District shall not consent to the organization of any other district organized under the Special District Act within the Service Area which will overlap the boundaries of the District unless the aggregate mill levy for payment of Debt of such proposed districts will not at any time exceed the Maximum Debt Mill Levy of the District.

• Following the Middle School Model per the 2000 Mill Levy Override language, middle school teachers shall have two equal planning periods per day, one individual and one team planning.

• The District shall pay to the Network its proportionate share of the 1998, 2003, and 2012 Mill Levy Override Funds, and any future mill levy funds approved by voters, for which it is eligible and the Network agrees to use such funds in accordance with Board approved guidelines and ballot measure language approved by voters.

• Ad valorem taxes and any Metropolitan District Assessments and Mill Levy for the then-current year shall not be prorated at the Closing, effective as of the date of Closing.

• The District shall pay to the Network its proportionate share of all Mill Levy Override Funds, and any future mill levy funds approved by voters, for which it is eligible in accordance with the District’s plan as required by C.R.S. 22-32-108.5. The Network agrees to use such funds in accordance with Board approved guidelines and ballot measure language approved by voters.

• The District shall pay to the School its proportionate share of all Mill Levy Override Funds, and any future mill levy funds approved by voters, for which it is eligible in accordance with the District’s plan as required by C.R.S. § 22-32-108.5. The School agrees to use such funds in accordance with Board approved guidelines and ballot measure language approved by voters.

More Definitions of Mill Levy

Mill Levy means an ad valorem mill levy (a mill being equal to 1/10 of 1¢) that may be imposed upon all taxable property by the District each year in an amount sufficient to pay each of the Districts’ operation, maintenance and debt service expenses. The maximum mill levy that the District may impose for any purpose, including debt service and operations and maintenance purposes, shall be 71.230 mills (the “Mill Levy Cap”); provided, however, that in the event the method of calculating assessed valuation is changed by legislative action, the Mill Levy Cap provided herein will be increased or decreased (as to all taxable property in the District) to reflect

Mill Levy means the rate of the tax, at a rate specified in the Hospital 5