Part 2: Excess levies and general obligation bonds

Part 2: Excess levies and general obligation bonds

Excess levies

Excess levies are imposed over and above regular property tax levies. Most excess levies require voter approval by a supermajority (60%). Local school district levies for maintenance and operations, transportation vehicle funds, or construction, modernization, or remodeling of school facilities under RCW 84.52.053 require a simple majority approval.

While several taxing districts have specific statutes authorizing excess levies, many taxing districts fall under the general excess levy statute, RCW 84.52.052.

Voter-approved excess levies are not subject to the statutory limitations.

Excess levy ballot titles must contain:

  • Identification of the enacting legislative body.
  • Statement of the subject matter, not to exceed 10 words.
  • A concise description of the measure, not to exceed 75 words.
  • A question asking if the ballot measure should be approved.

RCW 29A.36.071, 29A.72.050

General obligation bonds

General obligation bonds

As a subcategory of the excess levy, a general obligation bond is backed by the taxing district's ability to levy tax.

The taxing district must receive voter approval to issue a general obligation bond. The district can levy an amount sufficient to pay principal and interest for the bonded debt.

The major difference between an excess levy and a bond is time. A bond has a longer duration than an excess levy. Taxing districts issue bonds to pay for long-term projects such as buildings, infrastructure, schools and sewer systems. Typical bond levies include:

  • Construction bonds.
  • Transportation vehicle fund bonds.
  • Technology bonds.

While several taxing districts have specific statutes authorizing issuance of bonds, many taxing districts fall under the general bond statute, RCW 84.52.056.

Voter-approved bond levies are not subject to the statutory limitations.

General obligation bond ballot titles must contain:

  • Identification of the enacting legislative body.
  • Statement of the subject matter, not to exceed 10 words.
  • A concise description of the measure, not to exceed 75 words.
  • The maximum amount of the indebtedness to be authorized.
  • The maximum term any bonds may have.
  • A description of the purpose or purposes of the bond issue.
  • Whether excess property taxes will be levied to pay and retire such bonds.
  • A question asking if the ballot measure should be approved.

RCW 29A.36.071, 29A.72.050, 39.36.050