Reorganized districts with voter-approved taxes would generally cap collections when countywide reassessment changes total assessed property

School boards would set a property tax rate that brings in no more than the previous year's revenue after countywide reassessment changes the district's total assessed property value. This covers reorganized school districts whose voters approved a tax rate or amount and whose total assessed property value changes after countywide reassessment. A district may raise its rate by no more than 10% if reassessment causes a projected loss compared with the previous year's collections, and only to try to break even. If reassessment takes effect after voters approve a tax increase but before the district collects it, a separate rule caps collections at no more than 10% above revenue expected from that vote and earlier votes. The proposal states it would take effect July 1, 2025, and apply to public school tax rates after July 1, 2025.

Boards would calculate school tax revenue in the newly reassessed county without adding quarterly assessment updates or an extra 10%. This covers districts that cross county lines when reassessment makes their local school taxes differ between counties. The proposal states it would take effect July 1, 2025, and apply to public school tax rates after July 1, 2025.

After a rate increase under the voter-approved tax reassessment rules, a district could raise its rate again only through a local election or after another countywide reassessment. This applies after a reorganized district with voter-approved taxes raises its rate under these reassessment rules. The proposal states it would take effect July 1, 2025, and apply to public school tax rates after July 1, 2025.