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House Finance Committee backs bill to cap property-tax spikes, funds hold-harmless payments for some school districts
Summary
The House Finance Committee voted to favorably report Substitute House Bill 186, a measure to limit sudden, large increases in unvoted property taxes for school districts and to appropriate state funds to hold certain districts harmless after recent reappraisals.
The House Finance Committee voted to favorably report Substitute House Bill 186, a measure to limit sudden, large increases in unvoted property taxes for school districts, and to use state funds to temporarily "hold harmless" affected districts after recent reappraisals. The committee vote on the motion to recommend passage was 24 affirmative and 4 negative; the bill moves to the rules and reference committee with LSC harmonizing authority.
The bill creates an "inflation cap credit" that ties increases in property-tax revenues for school districts at the 20-mill floor to an inflation measure based on the preceding three years, sponsors said during the committee’s first hearing. Testimony provided to the committee said the bill…
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