Longtime homeowners could get a school tax ceiling after a big jump
What it does
The bill would add a new limit on school property taxes for certain homeowners. If your home has been your residence homestead for at least 15 straight tax years, and the school district taxes on it in the 15th of those years are at least 120 percent higher than in the first of them, your district could not charge you more than the smallest of three amounts going forward: this year's school tax bill, the amount charged in that 15th year, or the ceiling that already protects homeowners 65 and older. That comparison leaves out taxes on the value of improvements you made during those years. The bill would take effect January 1, 2028, and only if voters approve a related constitutional amendment.
What it means for your community
This would be a safety net for long-tenured homeowners in a school district where taxes jumped fast. Your district's budget notice would have to state this new protection in bold before its budget meeting, so you would see it in writing. A capped home is less revenue for the district, so the difference would fall on other property in the district. To count, your home has to have been your homestead for 15 straight tax years, and the increase has to come from tax years after 2012.
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