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Stifel outlines tax impact if Liberty renews or raises M&O override
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Summary
Financial adviser Mike LaValle told the board that renewing the district's 10% maintenance-and-operations override would appear as about $61 per $100,000 of assessed value in voter material while a 15% override would be about $91 per $100,000 in the first year; timing, ballot mechanics and replacement (not stacking) were explained.
At a public briefing April 13, Mike LaValle of Stifel Public Finance reviewed options and timing for a maintenance-and-operations (M&O) override renewal or increase, and the likely tax impacts for typical homeowners in the district.
LaValle said the district's current override—voter-approved at 10% in November 2022—began applying in fiscal year 2023-24 and phases down in its final years unless renewed. He explained that a renewal replaces the existing override rather than adding to it and that an election would need to be placed on a November ballot.
Using a standard example, LaValle translated percent overrides into homeowner dollars: "For a $100,000 tax value, it's $61 a year on a 10% override and $91 a year on a 15% override," he said, noting the voter pamphlet must use the previous year's assessed value so the tax-rate number in materials can differ slightly from the eventual tax bill.
LaValle showed multi-year projections that factor the district's revenue-control limit and assessed-value trends; he also presented a higher-15% scenario that would yield roughly $5.1 million in first-year revenue under his assumptions. He warned boards to plan outreach and clear voter education because the tax-roll impact depends on limited property value, not market value.
Board members asked about timing (in-person vs. mail ballots in different years), bond tax-rate interactions and messaging. Several members emphasized the value of characterizing a renewal as a "continuation" rather than an increase when the phasedown makes a renewal politically easier to present.
No formal action to call an election was taken at the meeting; the presentation was intended to inform board discussion about whether to put a renewal on a November ballot.
