Senator Beard seeks 3% cap on growth in school-related property tax revenue; school groups warn of funding shortfall

Senator Becky Beard introduced Senate Bill 102 to the Senate Local Government Committee, proposing that the levy calculation for state equalization (the 95 mills) be limited so the Department of Revenue may not set a levy that generates more than the prior year’s property-tax collections plus 3 percent. Beard said the change is intended to protect property taxpayers from abrupt tax increases tied to reappraisals.

Nut graf: The bill focuses on the revenue stream commonly called the 95 mills, a statewide component used in school funding equalization. Supporters described SB 102 as a means to prevent “tax bill shock” when market reappraisals sharply raise taxable value; opponents said the proposal would shrink a key state funding source for K–12 education and shift costs to local districts or the state general fund.

What the sponsor said

Senator Becky Beard (Senate District 38) told the committee that voters are concerned about large increases…