Starting in 2027, this bill lowers the maximum property tax rate that school districts can charge on residential homes while adjusting rates for agricultural land and other properties. The new limits set the general school fund levy at $4.87 per $1,000 of property value (down from the previous rate), with homeowners paying just $0.67 per $1,000 on owner-occupied homes and farmers paying $1.05 per $1,000 on agricultural land. The bill also changes how state education funding formulas work to account for these new property tax limits.
The amendment reduced the general fund levy from $5.87 per thousand to $4.21 per thousand dollars of taxable valuation, and lowered the owner-occupied dwelling levy from $2.35 to $2.08 per thousand dollars.
The amendment reduced the general fund mill levy from $5.21 to $4.86 per thousand dollars of taxable valuation and eliminated the proportionality requirement for maintaining levy relationships when districts impose less than maximum levies.
Signed by the Governor H.J. 578
Delivered to the Governor H.J. 574
Signed by the President S.J. 545
Signed by the Speaker H.J. 574
Senate Do Pass Amended Passed, YEAS 34, NAYS 0. S.J. 542
First read in Senate and referral to committee waived pursuant to JR 6D-1 S.J. 542
House of Representatives Do Pass Amended Passed, YEAS 66, NAYS 1. H.J. 572
Committee on Appropriations Do Pass Amended Passed, YEAS 18, NAYS 0. J. 67
Committee on Appropriations Motion to amend J. 61
Committee on Appropriations Scheduled for hearing J. 1
Committee on Appropriations Scheduled for hearing J. 1
House of Representatives Referred to Joint Committee on Appropriations H.J. 37
First Reading House H.J. 15
Do Pass Amended
Do Pass Amended
Committee on Appropriations — Do Pass Amended