An explanatory letter from The Coalition Communities follows below.
According to the analysis of the bill contained in the bills text "This bill establishes the rate of the statewide education tax at $8 per 1,000 of the value of taxable property and transfers the authority to collect the education property tax from the municipalities to the department of revenue administration. This bill establishes a homestead exemption from the education property tax for the first $250,000 of assessed value of homestead property. The bill also requires an annual transfer of $150,000,000 from the education trust fund to the general fund"
The bill is sponsored by Rep. Gillman Shattuck (d) Hillsborough.
It is clear that this bill is targeting property rich municipalities, despite the homestead exemption.
As the letter suggests, a quick email to the members of the House Ways and Means Committee before March 4th will help assure that this bill is killed. The bill is scheduled to come out of committee on March 5th.