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Committee Reviews Uniform property tax modeling, weighs homestead vs. combined rates
Summary
Legislative committee staff presented modeling showing what a single statewide equalized property tax rate would have looked like in fiscal year 2025 and compared that to options that preserve a separate nonhomestead rate; senators pressed on equity, transition timing and likely winners and losers among school districts.
Lawmakers on the committee spent much of the meeting reviewing Joint Fiscal Office modeling of how a statewide uniform property tax rate would have affected school districts in fiscal year 2025.
Julia Reichert, Joint Fiscal Office, told the committee, “what we're looking at here ... is I was asked to do some modeling about property impact calculations if there were a uniform rate,” and walked members through spreadsheets that set an equalized statewide rate at about $3.73 per $100 of equalized value in the illustrative FY25 scenario.
The nut graf: committee members said the models are illustrative — they hold FY25 spending, yields and other assumptions constant so the results are an apples‑to‑apples comparison — and stressed that any real change would require transition rules, decisions about whether homestead and nonhomestead rates remain separate, and additional modeling of tax credits and income sensitivity.
Most of the discussion centered on two…
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