MREA Map Shows Tax Relief and Equalization in SF 453

mreaadminCapitol Insider Blog, Opportunity Gap, View Maps on Issues

MREA released map today showing the tax relief and equalization in SF 453. A thumbnail is below. View the interactive map.

SF 453 replaces nearly $34 million in Operating Referendum Levies with State Equalization dollars:Map_SF 453

  • Raises Tier 1 Equalization Factor to $586,000, a 13% increase
  • Lowers Tier 2 Equalization Factor to $259,000, a 4% decrease

SF 453 Tax Impact on Homeowners:

  • Provides homeowners in the 253 school districts with voter approved operating referendums tax relief which also have less than $586,000 in RMV/PU.
  • Provides the greatest tax relief up to $25.50 for $150,000 homes in districts with greater than $270,000 in RMV/PU with referendums of $700 or more
  • Provides 40% of that relief ($10.50 for $150,000 homes) for the lowest wealth school districts with referendums of $700 or more