Extends the phase-in period for school district reorganization tax impacts from 10 to 20 years.

This bill amends the education law to extend the phase-in period for school district reorganization tax impacts from 10 to 20 years. Participating school districts can opt to defer and phase in the tax impact over this period. If the boards of education or trustees of all participating school districts do not approve a resolution opting for a common phase-in period, the provisions of this section do not apply. The tax rate for each portion of the reorganized school district is calculated based on the assessed value tax rate from the school year before the reorganization.

Extends the phase-in period for school district reorganization tax impacts from 10 to 20 years.

This bill amends the education law to extend the phase-in period for school district reorganization tax impacts from 10 to 20 years. Participating school districts can opt to defer and phase in the tax impact over this period. If the boards of education or trustees of all participating school districts do not approve a resolution opting for a common phase-in period, the provisions of this section do not apply. The tax rate for each portion of the reorganized school district is calculated based on the assessed value tax rate from the school year before the reorganization.