relative to statewide education property taxes.

Summary

The bill raises the statewide education property tax to $5 per $1,000 of assessed value starting July 1, 2027, and creates three tax credits that reduce the amount owed. It also changes how the tax revenue is collected and distributed to municipalities for local school funding, and revises the formula for calculating the cost of an adequate education. The measure is currently referred to the Ways and Means Committee for an interim study.

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