SB 55 reduces the maximum property tax rates that school districts can charge for their general funds starting in 2026, lowering the overall rate from $5.54 per thousand dollars of taxable value to $5.21, with proportional reductions for agricultural and owner-occupied residential properties. The bill also revises how the state calculates financial aid to school districts for general and special education programs. These changes affect property tax bills for school funding and adjust the balance between local property taxes and state education aid.
Signed by the Governor S.J. 539
Delivered to the Governor S.J. 535
Signed by the President S.J. 534
Signed by the Speaker H.J. 549
House of Representatives Do Pass Amended Passed, YEAS 58, NAYS 12. H.J. 547
First read in House and referral to committee waived pursuant to JR 6D-1 H.J. 547
Senate Do Pass Amended Passed, YEAS 33, NAYS 2. S.J. 531
Committee on Appropriations Do Pass Amended Passed, YEAS 16, NAYS 1. J. 46
Committee on Appropriations Motion to amend J. 46
Committee on Appropriations Scheduled for hearing J. 2
Senate Referred to Joint Committee on Appropriations S.J. 31
First read in Senate and referred to Senate Committee on Appropriations S.J. 11
Do Pass Amended
Do Pass Amended
Committee on Appropriations — Do Pass Amended