In each biennial legislative session, Nevada determines a guaranteed basic-support level per student. For the 2004-05 school year, the figure is $4,424. Then, unique basic-support levels per student are determined for each school district, using Nevada’s Distributive School Account Equity Allocation Model. The model takes into account such district characteristics as variations in cost of living, school size, administrative costs, and transportation costs. The school finance system also mandates two local taxes that must be levied in all districts: a 2.25 percent sales tax, and a property-tax levy of 25 cents for every $100 of assessed valuation. If the yield from those two sources is greater than the district’s foundation amount, the district does not receive formula aid. Although most of the state share of funding comes from the state general fund, Nevada has several taxes dedicated to education. There is a state property tax of 75 cents per $100 of assessed valuation, an out-of-state sales tax, an estate tax, and an annual slot-machine license fee. Nevada is one of just five states in which there have never been lawsuits challenging their school finance systems.
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