Truth in Taxation
Statutes require that each year a certified tax rate be calculated. The certified tax rate is the rate which will provide the same amount of property tax revenue as was charged in the previous year, excluding the revenue generated by new growth. The Minimum School Program levy is exempt from the calculation of the certified tax rate.
If a school district determines that it needs greater revenues than what the certified tax rate will generate, statutes require that the entity must then go through a process referred to as Truth in Taxation. The Truth in Taxation statutes require an entity to go through a series of steps which include proper notification of the proposed tax increase to the tax payers and a public hearing.
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