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Committee reviews H.949 yield bill that would set FY27 education yields and reserve $52.45M for FY28
Summary
Legislative staff and fiscal analysts told the committee H.949 sets FY27 property and income yields (9,170 and 12,576 respectively), a non-homestead rate of 1.698, and reserves $52.45 million in the education fund to smooth FY28 property-tax impacts; fiscal modeling projects a roughly 7% average tax increase in FY27 absent other changes.
John Gray of the Office of Legislative Council and fiscal staff briefed the Senate Education Committee on H.949, the annual yield bill, explaining how the measure sets property dollar-equivalent and income-equivalent yields and establishes a reserve intended to blunt year-to-year tax volatility.
Gray summarized sections 1 and 2: the property dollar-equivalent yield (9,170), the income yield (12,576) and a non‑homestead rate of 1.698. Section 2 reserves $52,450,000 in the education fund to be applied to…
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