§ 40306 Tax Rate Determination Process

• •The board sets the tax rate every year by September 1st.
• •The tax rate is based on the value of property in the area.
• •The tax rate is set to collect enough money for what the board needs.
• •The tax rate cannot be higher than the maximum limit set by the law.

Your local school board needs money to build a new playground.

The board will decide how much tax to charge based on the value of homes and buildings in the area. They will set a rate, like 1% of the property value, to collect enough money for the playground. They can't charge more than the law allows.