Local tax proposals would show homeowners estimated property tax costs

Local governments and school districts would include home tax estimates on bond ballots. These provisions cover local government and school district bond elections. Ballots would warn that higher property taxes may raise rents. The Revenue Department would provide a home tax calculator, and the government holding the election would post it online. The estimates would describe the first year's added property taxes if the bond passes.

Local taxing bodies would include estimated added home taxes on property tax levy ballots. This covers votes on new levies, levy increases requiring voter approval, and proposals to exceed levy limits. Ballots would warn that higher property taxes may raise rents. For elections covering multiple counties, the estimate would use the average of county middle home values for primary homes qualifying for a lower tax rate. The Revenue Department would calculate those county values every two years.

School trustees would publish notice and home tax estimates for certain levy increases that do not require a public vote. This covers specified school levies that trustees can raise without a public vote. The requirement would apply when trustees plan to increase levies for tuition, adult education, transportation, or bus replacement reserves. Trustees would publish notice in a newspaper and post the required resolutions and state home tax calculator on the district website. Trustees would adopt the notice resolution by March 31 for planned increases in the next school fiscal year.