Levy equalization definition

Levy equalization means a state-funded program of aid that assists school districts in funding enrichment that supplements the state's program of basic education, and that is intended to mitigate the effect that variations in local property values might have on the ability to fund these supplements locally. The program of local effort assistance established in chapter 28A.500 RCW is an example of "levy equalization."
Sample 1Sample 2Sample 3
Levy equalization means a state-funded program of aid that
Sample 1Sample 2

Examples of Levy equalization in a sentence

  • Levy equalization moneys are based on the first 14% of levy authority in 2015 and 2016.

  • REDUCTIONS/SAVINGS Levy Equalization ($34.0 Million General Fund-State Savings) Levy equalization allocations to districts are reduced by 11.5 percent.

  • Levy equalization could be eliminated for Trout Lake School which would amount to $108,000.00 along with other proposed cuts such as reduced staffing for small high schools, shifting bus depreciation from October to August, eliminate or reduce small grants and projects and reduce administration by 10%.

  • Levy equalization provides state funds to match levies in eligible school districts.

  • Without the maintenance of local authority, significant budget reductions would occur at the district level. Levy and levy equalization calculations and formulas should continue to recognize the needs of small schools. Levy equalization is an important component of the local levy system as it provides both property tax relief and mitigates the effect that above-average property tax rates have ondistricts’ ability to raise local revenues.

  • Levy equalization fills the gap, but it appears that the state will benefit from increased property assessments in the future.

Related to Levy equalization

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Societal benefits charge means a charge imposed by an electric

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Final average salary means whichever of the following is greater:

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Employee Contribution means any contribution made to the Plan by or on behalf of a Participant that is included in the Participant's gross income in the year in which made and that is maintained under a separate account to which earnings and losses are allocated.

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • disability living allowance means a disability living allowance under section 71 of the SSCBA;

  • Creditable compensation means the full compensation payable annually to an employee working