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Board reviews Act 1 and Ready-to-Learn tax-equity supplement; $5.5 million earmarked for lost tax revenue
Summary
District staff explained a state tax-equity supplement the district will receive and reiterated the annual Act 1 resolution; the board discussed using $5.5 million to offset lost real-estate revenue tied to declining assessed values.
Board members reviewed two separate but related items: the district's annual Act 1 resolution and a state "ready-to-learn" tax equity supplement the district will receive under recently enacted law.
Staff explained the Act 1 resolution affirms the board will not raise property taxes above the Act 1 index (5.6% this year). Separately, the district's staff said the district will receive $5,500,000 under the state's ready-to-learn/tax-equity supplement but that the money was received this year and cannot be…
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