Plain English Breakdown
The bill was tabled in committee, meaning it did not become law as of the last action date. However, the summary text indicates an effective date of July 1, 2025, which is inconsistent with its current status.
Limiting School Property Tax Increases
This act removes the ability for public school districts to increase property tax rates by up to 10% following a general reassessment.
What This Bill Does
- Removes the ability for public school districts to increase property tax rates by up to 10% following a general reassessment.
Who It Names or Affects
- Public school districts
- Property owners who pay school property taxes
Terms To Know
- Reassessment
- A new evaluation of the value of properties for tax purposes.
- Tax rate
- The percentage of a property's value that is used to calculate how much in taxes needs to be paid.
Limits and Unknowns
- This act does not specify what happens if the reassessment shows lower values for properties.
- It only applies to public school tax rates and does not affect other types of property taxes.
- The bill was tabled in committee, meaning it did not become law as of the last action date.