An act relating to homestead property tax yields, the nonhomestead property tax rate, and technical changes to education finance

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Plain-English Summary

This bill adjusts property tax calculations for fiscal year 2027, setting specific rates for homestead and nonhomestead properties. It also modifies how "education spending" is defined, excluding certain voter-approved bond payments for taxes after July 1, 2026. Additionally, the bill makes technical changes to tax definitions and expands the renter credit program for claims in 2027.

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