Conference draft sets foundation-formula mechanics, new homestead exemption and tax-classification study
Conferees reviewed the foundation-formula design (base $15,033, weights, pre-K weight), transition schedule for EOP and tuition, and a proposed homestead exemption to replace the property tax credit; the department of taxes will report on tax-classification multipliers.
The full story
Conference committee staff walked conferees through the education finance sections of the H.454 conference draft, detailing the base amount, weight structure, transition timelines and a proposal to replace the state’s property tax credit with a homestead exemption.
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