Mill levy override and bond will support teachers, students and programs

For Immediate Release

Contact: Max Marolt / 970-829-4885

ASPEN—The Aspen School District Board of Education on Wednesday unanimously referred two questions to the November 2025 ballot—a mill-levy override (MLO) to provide up to $5 million per year in local funding and a $95 million bond to primarily address housing as well as classroom updates and maintenance.

“These funding measures will ensure that Aspen Schools can maintain… exceptional programs and learning,” Board President Christa Gieszl said of the ballot measures. Aspen School’s academic excellence “is why I moved to Aspen in the first place. It is so important for future students to receive that same education and all the opportunities that my kids had.”

The MLO will help address a revenue shortfall created by a change in the state’s School Finance Act that will be phased in over the next five years. Because of state budget constraints, the General Assembly has been shifting funding for Aspen Schools to local taxpayers, reducing the district’s funding by more than $23 million over the past 15 years. The legislature has also limited the cost-of-living factor for several school districts who have high property valuations, further reducing funding from the state.

The MLO, if approved by voters, will be dedicated to retaining teachers and staff and supporting the district’s unique programming such as International Baccalaureate and outdoor education.

The $95 million bond will be focused on teacher and staff housing to help recruit and retain world-class teachers and other professionals to live and work in the district and become a part of our community. The bond will allow the district to construct or obtain up to 55 additional employee housing units, which will satisfy the district’s housing needs for the foreseeable future. Bond revenue will also allow the district to build additional classrooms for its career-focused innovation curriculum, address ongoing maintenance to help provide safe learning environments, improve athletic facilities, and continue updates to the theater.

The Bond and MLO questions will be decided by eligible voters within the District, including voters in the City of Aspen, Town of Snowmass Village and unincorporated Pitkin County. Voters within the City of Aspen will also be asked to approve an increase in the Aspen Public Education Fund sales tax from 0.3% to 0.6%. This sales tax currently provides about $4 million annually, which is dedicated toward teacher salaries and curriculum. The additional funds will continue to support teachers and special education for students.

The Town of Snowmass Village is expected next week to refer a modest property tax increase to its Snowmass Village Public Education Fund, which is similar to the Aspen sales tax. Both programs were established to support local schools and students, recognizing that the state will no longer provide enough support to the district.

Per $1 million of actual home value, the estimated annual cost of the mill levy override is $62.

Per $1 million of actual home value, the estimated annual cost of a $95 million bond is $65.

Per $1 million of actual home value, the total cost of all ballot initiatives is $127.

The cost of the Aspen Public Education sales tax is dependent on how much is spent within the Aspen City limits.

Per $1 million of actual home value, the estimated annual cost of the mill levy override is $62.

Per $1 million of actual home value, the estimated annual cost of a $95 million bond is $65.

Per $1 million of actual home value, the estimated annual cost increase of the Snowmass Village Public Education property tax is $37.

Per $1 million of actual home value, the total cost of all ballot initiatives is $164.

Per $1 million of actual home value, the estimated annual cost of the mill levy override is $62.

Per $1 million of actual home value, the estimated annual cost of a $95 million bond is $65.

Per $1 million of actual home value, the total cost of all ballot initiatives is $127.

The assessor determines the actual (market) value for all real and personal property. Then a percentage (assessment rate - 7.05% for school districts) is multiplied by the actual value to come up with the assessed value.