adjust a limit on the percentage increase in revenue payable from property taxes.

Summary

The bill revises the formula that caps annual increases in property‑tax revenue for general taxing districts and for school districts’ capital‑outlay levies. It sets the maximum increase at the lesser of 3 % or a state index, with a temporary 3.5 % ceiling for the 2027‑2031 tax years, and exempts newly created districts for two years. These changes affect local governments and school districts by restricting how quickly their tax revenues can rise.

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