What type of funding do levies provide?
Operating Levy -
An Operating Levy is used to fund the general operations of the taxing jurisdiction for a specified period.
Permanent Improvement Levy -
A Permanent Improvement Levy raises funds for specific permanent improvement(s) (construction and repair of buildings, sidewalks, parking garages, etc.), with no interest paid on the funds. A permanent improvement levy is limited to 5 years.
Emergency Levy -
An Emergency Levy generates a specified (fixed) level of annual funding, regardless of changes in property values. Emergency levies are limited to 10 years and are exempt from the 20 mill floor limitation.