Bill Sent To Committee
Aug. 8, 2008
Aug. 8, 2008(Key vote)
Title: School District Property Tax Cap
Vote Smart's Synopsis:
Vote to pass a bill that caps annual increases in property tax rates imposed by school districts at 4 percent or 120 percent of inflation, whichever is less.
- Exempts city school districts with populations in excess of 125,000 from the cap [sec. 1 (1)]
- Allows school districts to increase property taxes at a rate in excess of the cap for one school year if the voters approve a referendum. The following levels of support are necessary for approval [sec. 2 (2-3)]:
- 60 percent of voters in a school district that received at least a 5 percent increase in State funding for the prior year; and
- 55 percent of voters in a school district that received less than a 5 percent increase in State funding for the prior year.
- Requires the approval of 50 percent of voters residing in a school district to impose a property tax increase that does not exceed the cap [sec. 2 (3) (b)].