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Ways & Means reviews yield-bill scenarios showing trade-offs between one-time tax relief and reserves
Summary
The Ways & Means committee heard Joint Fiscal Office modeling showing that a roughly $105 million one-time general-fund transfer (plus an Education Fund surplus) could reduce average education property-tax bills in FY27 but would shift impacts unevenly across homestead and non‑homestead classes; members debated reserving funds versus buying down rates now and requested further district-level data.
The House Ways & Means committee on Feb. 15 examined Joint Fiscal Office (JFO) modeling of the yield bill that shows how different uses of one-time general-fund money and Education Fund surplus would affect education property-tax bills in fiscal year 2027.
Julia Richter of the Joint Fiscal Office told the committee the office had run several illustrative scenarios. Using a one-time $105,000,000 general‑fund transfer together with $22,000,000 of Education Fund surplus to uniformly lower property taxes (JFO’s “column C”) would produce an average education property‑tax bill change of about 5.8% for FY27, the office’s models show. Richter said the scenarios are staff illustrations “for us to work with,” not a chair or committee proposal.
The JFO models separate effects across homestead and non‑homestead classes. In the scenario that directs the one‑time transfer only to homesteads (column D),…
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