❌ HB186
Regards school district property taxes, school funding formula
Summary
HB186 amends various sections of the Ohio Revised Code to authorize a reduction in school district property taxes based on a millage floor that limits tax increases according to inflation, and requires adjustments in the school funding formula accordingly. The bill applies to property classified as residential/agricultural and nonresidential/agricultural within affected school districts, allowing for tax reductions over a specified period. It also includes provisions for tax commissioner determinations and adjustments related to property valuations and tax rates.
Rationale
The bill introduces government regulation of property taxes and school funding, which may conflict with Libertarian principles advocating for minimal government intervention in economic matters. Both the LP and LPO platforms emphasize free markets and limited government control, suggesting that the bill's provisions could be seen as an increase in government oversight and intervention in taxation and education funding.
Risks and Concerns
- Increased government control over local taxation and funding mechanisms.
- Potential for unintended consequences in school funding disparities.
- Risk of bureaucratic inefficiencies in tax administration.