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Committee approves H949, sets FY27 yields and reserves $52.45 million for FY28 tax relief
Summary
The House Appropriations Committee approved yield bill H949 March 20, setting FY27 homestead yield at 9,170, income yield at 12,576 and a uniform non‑homestead rate of 1.698. The measure applies roughly half of a $104.9 million one‑time transfer to FY27 and reserves $52.45 million for FY28; JFO estimated an average 7% increase in education property bills for FY27.
The House Appropriations Committee voted March 20 to approve H949, the annual yield bill that sets the homestead and income yields and the uniform non‑homestead property tax rate for fiscal year 2027.
John Gray of the Office of Legislative Council described the bill as the standard yield measure and said it sets a homestead property yield of 9,170, an income yield of 12,576 and a uniform non‑homestead rate of 1.698 for FY27. The bill assumes a one‑time general fund transfer of $104.9 million; about half of that amount is applied to reduce FY27 property tax rates and roughly $52.45 million is reserved to lower FY28 rates.
Julia Reker of the Joint Fiscal Office summarized the education‑fund outlook the committee used to calculate the yields. "The yields and the rate will result in an…
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