Budget & Taxes

This Act gives a county, upon a county-wide reassessment of real property under § 8306(b) of Title 9, the authority to adopt an ordinance modifying the school property tax exemption amounts that were put in place on or before January 1, 1998. In doing so, this Act protects seniors and individuals with disabilities from significant school tax increases related to county-wide reassessments of property values.

The Public Education Funding Commission was first established under Senate Concurrent Resolution No. 201 of the 152nd General Assembly. This Concurrent Resolution re-establishes the Commission to continue its comprehensive review of public education funding for all students and populations served by district and charter schools, develop a roadmap of recommendations to implement improvements to the public education funding system, and serve as an ongoing body to review the funding annually and recommend updates and changes. The Commission will issue its first recommendations by October 1, 2025, and its final recommendations by July 1, 2026.