Lawmakers Propose 15% Property Tax Solution

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A 15 percent cut in the property taxes you pay to your school district.

That’s the plan unveiled today by the Legislature’s Revenue Committee.

The committee pushing that 15 percent cut in those school property taxes over the next three years.

And the plan hits all properties: farmland, residential and commercial.
It does not increase sales or income taxes.

A public hearing on the 15 percent solution is expected to be held next week.

Lawmakers say they want to get the plan to the floor of the Legislature as soon as possible.

The tax cut is paid for by an expected, but not guaranteed, 4-to-5 percent growth in state revenues.

The bill is the Legislature's counter-attack to the so-called 35 percent solution, a petition drive aimed at going to the voters in November with a 35 percent property tax cut.

See our full video report above.