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Committee backs change to school equalization millage threshold
Summary
The committee approved a bill that lowers the equalization minimum millage threshold from 14 mills to 10 mills and adds a penalty for districts that reduce millage below the new threshold; sponsors said the change would allow jurisdictions to roll back rates as property values rise without losing local equalization share.
Representative Cannon presented legislation to change the minimum local millage threshold used in the school equalization formula. The measure lowers the threshold from 14 mills to 10 mills and adds a penalty provision: if a local jurisdiction drops below the new threshold, up to 25 percent of…
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