Bill > SB102

This bill revises the calculation of state education levies by modifying how governmental entities can impose mill levies (property tax rates) for certain state education funds. Specifically, the bill limits the growth of revenue from state school equalization mills and vocational-technical education levies to no more than 3% over the previous year's assessed property tax. The bill removes the ability to carry forward unused mill levy authority for specific state education mill levies, including those under sections 20-9-331, 20-9-333, 20-9-360, and 20-25-439. The department of revenue will calculate these mill levies on a statewide basis, ensuring they do not exceed established mill levy limits. The bill also clarifies definitions of newly taxable property, including annexations, property improvements, and transfers of tax-exempt property to taxable status. These changes are designed to provide more predictable and controlled growth in education funding through property taxes, with the new provisions applying to property tax years beginning after December 31, 2025. The bill aims to create more consistency and limit potential significant increases in education-related property tax assessments.

Government Affairs

https://bills.legmt.gov/#/laws/bill/2/LC0984