Oppose SB 2862, Tax Caps Harm Schools

Even as schools struggle financially,  lawmakers are trying to pass a bill that would severely restrict local funding that keeps the school doors open to educate our children. Most of the school districts affected would lose millions in funding.

SB 2862 would have far-reaching negative impact upon already revenue-challenged school districts. The legislation requires that districts in PTELL (tax-capped) communities for which the total taxable Equalized Assessed Valuation (EAV) is less than the previous year be restricted to a 0% extension, or the rate approved by voters. Currently, districts subject to PTELL are limited in their ability to increase local revenue by the Consumer Price Index (CPI) or 5%, whichever is less. SB 2862 eliminates the authority of a local school board to increase local revenue by inflationary costs.