Bonds & Overrides
School districts thrive based on the support of their community. The Peoria Unified School District is proud of the way we use our tax dollars, provided by both local taxpayers and those across the state, carefully in order to provide the best possible education to every student that attends our schools. In our current economic climate, state and federal dollars are not enough to meet the educational and safety needs of students. The district has made use of bond and override elections, approved by local voters, to supplement the budget and meet student needs.
School district budgets are quite different from household budgets and are subject to rules and restrictions put in place by voters and the legislature. The information on this page provides a basic understanding of how schools are financed and the additional revenue available through bond and override measures. For detailed information on how each dollar that comes into the district is used, please visit our Budget page.
If you have any questions about the budget or bonds and overrides that are not addressed on this page, please give us a call at 623-486-6100 and we would be happy to provide additional information.
Bond and Override Frequently Asked Questions
When the funding provided by the state isn’t enough to meet the needs of all students, the state allows school districts to ask for local support through bonds and overrides. This requires Governing Board approval to be placed on a ballot for the community to vote.
Maintenance and Operations Overrides are used to provide additional funding to support people and programs. School districts may ask for an increase of up to 15 percent of their revenue control limit for a term of seven years. Many districts will ask voters to approve a renewal in year 4 or 5 of an override to maintain a consistent level of funding. If not renewed, the amount decreases by 1/3 in the sixth year, 2/3 in the seventh year, and is fully eliminated in year eight. The Peoria Unified School District has had an override in place since 2001.
Bonds are similar to loans that are authorized by voters and used to purchase capital items and/or make capital improvements to existing facilities, such as building or renovating a school or purchasing school buses. The funding can only be used to fund projects that have a useful life longer than five years. They are repaid over a set period of time, and the district must provide the community with information on how the dollars are spent. Funds from a bond cannot be used for employee compensation.
To calculate their property taxes, a community member needs the limited property value of their property. This is not the current fair market value of a home that can be found on Zillow or Redfin but rather the Limited Property Value as calculated by the Maricopa County Assessor. This amount can be located on the Property Notice of Valuation that is mailed each year from the Maricopa County Assessor or online by visiting the Maricopa County Assessor website.
This example of a Property Notice of Valuation is for a home that has an approximate fair market value of $400,000 if it were to be listed for sale on the open market.
Example tax calculation based on Example valuation:
Limited Property Value: $262,110 X .10 = $26,211
Then divide $26,211 BY 100 = $262.11 X $1.74 = $456.07
Voters passed an override in 2015, which was used to bring back free full-day kindergarten. It currently provides salary increases to Peoria Unified staff and provides funds for additional positions such as assistant principals, school nurses, instructional coaches and programs such as arts education, athletics and extra-curricular activities.
Dollars in the Classroom
An analysis of spending in Arizona School Districts is performed annually by the Auditor General's Office in accordance with Proposition 301 (passed by Arizona voters in 2000). The report offers a clear examination of how tax dollars are spent in the Peoria Unified School District and how that spending compares to other districts and statewide. Classroom dollar percentage is the amount spent for classroom purposes divided by the total amount spent for day-to-day operations, or total operational spending.
Click here to read the most recent Dollars in the Classroom report.
Additional details for the Dollars in the Classroom report can be found on the Auditor General's website