53A-21-101.5.   Definitions.
     As used in this chapter:
     (1) "ADM" or "pupil in average daily membership" is as defined in Section 53A-17a-103.
     (2) "Combined capital levy rate" means a rate that includes the sum of the following property tax levies:
     (a) the capital outlay levy authorized in Section 53A-16-107;
     (b) the portion of the 10% of basic levy described in Section 53A-17a-145 that is budgeted for debt service or capital outlay;
     (c) the debt service levy authorized in Section 11-14-310; and
     (d) the voted capital outlay leeway authorized in Section 53A-16-110.
     (3) "Derived net taxable value" means the quotient of:
     (a) the total current property tax collections from April 1 through the following March 31 for a school district; divided by
     (b) the school district's total tax rate for the calendar year preceding the March 31 referenced in Subsection (3)(a).
     (4) "Highest combined capital levy rate" means the highest combined capital levy rate imposed by any school district within the state for a fiscal year.
     (5) "Property tax base per ADM" means the quotient of:
     (a) a school district's derived net taxable value; divided by
     (b) the school district's ADM for the same year.
     (6) "Property tax yield per ADM" means:
     (a) the product of:
     (i) a school district's derived net taxable value; and
     (ii) the highest combined capital levy rate for the fiscal year of the March 31 referenced in Subsection (3)(a); divided by
     (b) the school district's ADM for the same fiscal year.
     (7) "Statewide average property tax base per ADM" means the quotient of:
     (a) the sum of all school districts' derived net taxable value; divided by
     (b) the sum of all school districts' ADM statewide for the same year.

Enacted by Chapter 236, 2008 General Session
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Last revised: Thursday, May 28, 2009