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HB 2011 reduces the statewide school levy from 20.0 to 18.5 mills and increases the residential exemption from $75k to $100k, with SGF transfers to backfill revenue.
HB 2011 reduces the statewide school levy from 20.0 to 18.5 mills and increases the residential exemption from $75k to $100k, with SGF transfers to backfill revenue.
Status: Committee report recommending passage as amended by House Committee on Taxation. Introduced: Jan 22, 2025.
HB 2011 provides broad-based property tax relief by (1) reducing the statewide school finance ad valorem mill levy and (2) increasing the amount of residential property value exempt from that statewide school levy. The bill also requires State General Fund (SGF) transfers to replace any revenue lost to the State School District Finance Fund (SSDFF) because of the mill-levy reduction.
Mill-levy reduction
Residential exemption increase
SGF transfer requirement
Statutory changes
Prepared to aid understanding of substantive effects; consult official bill text and fiscal notes for legal/technical implementation details.
Compiled from official sources — confirm details with the bill’s official record.
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