Fiscal Note

SB0087 - School Property Tax Equalization Revisions

State Impact:
Enactment of this bill will not require additional appropriations.

Individual, Business and/or Local Impact:
By eliminating provisions for a county-wide pool of capital outlay property tax revenue, enactment of this bill may increase or decrease the amount of capital outlay property tax revenue a school district receives in a county of the first class. Depending upon the actions taken by the local school board, revenue to certain school districts may increase by $11,280,000 in FY 2011 and $8,600,000 in FY 2012, whereas revenue to certain school districts may decrease by $11,280,000 in FY 2011 and $8,600,000 in FY 2012. Also depending upon the actions of the local school board, indviduals may experience a property tax increase or decrease.