Teacherages-exemption from property taxes.

05LSO-0197.L1

                                                         

FISCAL NOTE

 

Exempting school-owned teacher-occupied property under this bill would decrease property tax revenues, including the 12 mill levy to the School Foundation Program. Current information from county assessors indicates 67 structures in 15 counties potentially qualifying. Using the tax year 2003 statewide median property tax amount computed for the property tax relief program ($501) yields a potential property tax revenue decrease totaling $33,567 per year. Of this amount, the decrease to the School Foundation Program (12 mills) is estimated at $5,600 per year.

 

The potential decrease in property tax revenues resulting from the future construction or purchase of teacherages by school districts is unknown.

 

 

Prepared by:   Dean Temte, LSO        Phone:   777-7881

(Information provided by Wade Hall, Dept. of Revenue; phone 777-5235)