1999 Fiscal Review - Local Property Tax Aids and Credits

Local Property Tax Aids and Credits

Functions of State Government

State Debt and Capital Expenditures

Statistics and tables

About the Fiscal Review

Senate Counsel & Research home page

Local Property Tax Aids and Credits

The Education Homestead Credit was increased from 64.1 percent of the general education tax on a homestead to 83 percent for taxes payable in 2000 and thereafter. The maximum credit was increased from $335 to $390 for taxes payable in 2000 and thereafter. A new Education Agricultural Credit was added which is equal to 54 percent of the general education tax on homestead farm land and 50 percent of the general education tax on nonhomestead farm land. Homestead and Agricultural Credit Aid (HACA) was increased to pay the cost of reduced class rates on farm land and seasonal recreational property (see table on page 12). The additional cost of the education credits and HACA is estimated to be $121.3 million in the 1999-2001 biennium and $277.4 million in the 2001-2003 biennium.

A new property tax aid called Charity Care Aid was authorized for the year 2000 only. The aid reimburses counties for the cost of providing medical care to indigent patients who are not residents of the county where the care is provided. The total amount of aid is limited to $10 million in calendar year 2000 which is a cost in the 1999-2001 biennium.

Property tax class rates were reduced for a number of property types effective for taxes payable in 2000. The table below shows the class rates under prior law, and the newly enacted class rates.

Property Tax Class Rates

PROPERTY TAX CLASS RATES

Prior Law
Payable 2000

Current Law
Payable 2000

Residential homestead:
Less than $76,000
More than $76,000
Residential non-homestead:
Single unit:
Less than $76,000
More than $76,000
2 or 3 units (and undeveloped land)
Apartments:
Regular
Low-income
Small Cities
Agricultural land and buildings:
Homestead
Less than $115,000
$ 115,000 - $600,000, < 320 acres
$ 115,000 - $600,000, > 320 acres
More than $600,000, < 320 acres
More than $600,000, > 320 acres
Non-homestead
Seasonal recreational residential (cabins):
Less than $76,000
More than $76,000
Commercial seasonal recreational:
Homestead resorts (1c)
Seasonal resorts (4c)
Disabled homestead
Commercial/Industrial:
Less than $150,000
More than $150,000
Public Utility:
Land and buildings
Attached machinery
Public utility personal property

1.0
1.7

1.0
1.65

1.25
1.7
1.7

1.2
1.65
1.65

2.5
1.0
2.15

2.4
1.0
2.15

0.35
0.8
1.25
0.8
1.25
1.25

0.35
0.8
0.8
1.2
1.2
1.2

1.25
2.2

1.2
1.65

1.0
1.8

1.0
1.65

0.45

0.45

2.45
3.5

2.4
3.4

3.5
3.5
3.5

3.4
3.4
3.4

Go to next page

Property Tax Class Rates

Prior Law
Payable 2000

Current Law
Payable 2000

1.0
1.7

1.0
1.65

1.25
1.7
1.7

1.2
1.65
1.65

2.5
1.0
2.15

2.4
1.0
2.15

0.35
0.8
1.25
0.8
1.25
1.25

0.35
0.8
0.8
1.2
1.2
1.2

1.25
2.2

1.2
1.65

1.0
1.8

1.0
1.65

0.45

0.45

2.45
3.5

2.4
3.4

3.5
3.5
3.5

3.4
3.4
3.4



	Property Tax Class Rates PROPERTY TAX CLASS RATES

		Prior Law Payable 2000		Current Law Payable 2000

Residential homestead: Less than $76,000 More than $76,000 Residential non-homestead: Single unit: Less than $76,000 More than $76,000 2 or 3 units (and undeveloped land) Apartments: Regular Low-income Small Cities Agricultural land and buildings: Homestead Less than $115,000 $ 115,000 - $600,000, < 320 acres $ 115,000 - $600,000, > 320 acres More than $600,000, < 320 acres More than $600,000, > 320 acres Non-homestead Seasonal recreational residential (cabins): Less than $76,000 More than $76,000 Commercial seasonal recreational: Homestead resorts (1c) Seasonal resorts (4c) Disabled homestead Commercial/Industrial: Less than $150,000 More than $150,000 Public Utility: Land and buildings Attached machinery Public utility personal property
			1.0 1.7		1.0 1.65

			1.25 1.7 1.7		1.2 1.65 1.65

			2.5 1.0 2.15		2.4 1.0 2.15

			0.35 0.8 1.25 0.8 1.25 1.25		0.35 0.8 0.8 1.2 1.2 1.2

			1.25 2.2		1.2 1.65

			1.0 1.8		1.0 1.65

			0.45		0.45

			2.45 3.5		2.4 3.4

			3.5 3.5 3.5		3.4 3.4 3.4

Property Tax Class Rates

Prior Law Payable 2000

Current Law Payable 2000

1.0 1.7

1.0 1.65

1.25 1.7 1.7

1.2 1.65 1.65

2.5 1.0 2.15

2.4 1.0 2.15

0.35 0.8 1.25 0.8 1.25 1.25

0.35 0.8 0.8 1.2 1.2 1.2

1.25 2.2

1.2 1.65

1.0 1.8

1.0 1.65

0.45

0.45

2.45 3.5

2.4 3.4

3.5 3.5 3.5

3.4 3.4 3.4

Prior Law
Payable 2000

Current Law
Payable 2000

1.0
1.7

1.0
1.65

1.25
1.7
1.7

1.2
1.65
1.65

2.5
1.0
2.15

2.4
1.0
2.15

0.35
0.8
1.25
0.8
1.25
1.25

0.35
0.8
0.8
1.2
1.2
1.2

1.25
2.2

1.2
1.65

1.0
1.8

1.0
1.65

2.45
3.5

2.4
3.4

3.5
3.5
3.5

3.4
3.4
3.4