§ 16074 District Grade Tax Calculation

This law tells the state Controller to figure out three specific tax amounts (40¢, 30¢ and 10¢) for every school grade level that got a final funding decision in the previous fiscal year, and to do this by January 1 each year.

Key Takeaways

•The Controller must do the calculation every year by Jan 1.
•Only grade levels with a final apportionment from the previous year are included.
•Three fixed tax amounts (40¢, 30¢, 10¢) are computed for each qualifying grade.

Example

A school district finishes its funding numbers for 5th grade in the 2022‑23 school year. By January 1, 2024, the Controller must calculate the 40‑cent, 30‑cent and 10‑cent tax amounts for that 5th‑grade level.

The Controller looks at the 5th‑grade funding decision that was finalized last year and then writes down the three tax amounts (40¢, 30¢, 10¢) that the law requires for that grade.

How to Calculate

TaxAmount = {0.40, 0.30, 0.10} per grade level with a final apportionment

Find each grade level in the district that had a final apportionment in the previous fiscal year.
For each of those grade levels, assign the three tax amounts: 40‑cent, 30‑cent, and 10‑cent.
Record the amounts by the January 1 deadline for the new fiscal year.

District X had a final apportionment for 2nd grade in the 2022‑23 fiscal year.

Result: 40‑cent tax amount = $0.40, 30‑cent tax amount = $0.30, 10‑cent tax amount = $0.10

Key Takeaways

•The Controller must do the calculation every year by Jan 1.
•Only grade levels with a final apportionment from the previous year are included.
•Three fixed tax amounts (40¢, 30¢, 10¢) are computed for each qualifying grade.

Example

The Controller looks at the 5th‑grade funding decision that was finalized last year and then writes down the three tax amounts (40¢, 30¢, 10¢) that the law requires for that grade.

How to Calculate

TaxAmount = {0.40, 0.30, 0.10} per grade level with a final apportionment

Find each grade level in the district that had a final apportionment in the previous fiscal year.
For each of those grade levels, assign the three tax amounts: 40‑cent, 30‑cent, and 10‑cent.
Record the amounts by the January 1 deadline for the new fiscal year.

District X had a final apportionment for 2nd grade in the 2022‑23 fiscal year.

Result: 40‑cent tax amount = $0.40, 30‑cent tax amount = $0.30, 10‑cent tax amount = $0.10

Key Takeaways

Example

How to Calculate

Key Terms

References

§ 16074 District Grade Tax Calculation

Key Takeaways

Example

How to Calculate

Key Terms

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References