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Senate proposal’s technical fix aims to prevent double application that would inflate property tax rates
Summary
Legislative staff discussed a technical correction in Section 69 of a Senate proposal to prevent the statewide adjustment from being applied twice to the property dollar equivalent yield, which staff said would otherwise raise property tax rates for fiscal 2026 above amounts the General Assembly intended.
An unidentified staff member, staff member, said a technical correction in Section 69 of the Senate proposal would stop a “double application of the statewide adjustment” to the property dollar equivalent yield, a calculation used to set property tax rates for education funding.
The fix matters because the December 1 letter that recommends the property dollar equivalent yield already incorporates the statewide adjustment, the unidentified staff member said. “If you have that December 1 recommended yield ... and then you also multiply the yield by the statewide adjustment, you just double hit the yield, and it produces a wildly different number,” the staff member said. The result, the staff member added,…
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