Bill > SB66

This bill amends Ohio Revised Code section 319.301 to modify how school district tax calculations are performed by expanding the definition of "qualifying taxes" to include emergency levies, substitute levies, inside millage (taxes levied within constitutional limits), and school district income taxes when calculating a school district's effective millage floor. Specifically, the bill introduces a new calculation method for school district income taxes by computing a "property tax equivalent rate" that allows these income taxes to be factored into tax rate determinations. The bill ensures that school districts cannot have their total qualifying taxes reduced below two percent of taxable property value, which helps protect school funding levels. The changes will apply to tax years beginning on or after the bill's effective date, and the amendment aims to provide a more comprehensive approach to measuring a school district's total tax base by incorporating additional types of local tax levies into the calculation. This technical change could potentially help school districts maintain more stable funding by preventing significant reductions in their overall tax collections.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/sb66