SCS/SB 361 - The certified value of the sales ratio is used to determine equalized school district assessed valuations and operating levies for determination of state school aid. Current law provides that until January 1, 1996, any sales ratio higher than 31 2/3% shall be certified at 33 1/3%, causing no equalization adjustment to the assessed valuation or operating levy.

This act provides that after January 1, 1996, county assessment sales ratios shall be certified as follows:

A ratio which is: Is certified at: Less than 30% actual value At least 30% but no more than 32 2/3% 32 2/3% More than 32 2/3% but less than 34% 33 1/3% At least 34% but no more than 36 2/3% 34% More than 36 2/3% actual value

A penalty will be imposed if the sales ratio is less than 30% or more than 36 2/3% and the ratio is not corrected by subsequent action of the State Tax Commission. The penalty shall be a 25% reduction in the county's reimbursement if the county's immediately preceding ratio computation was less than 30% or more than 36 2/3%. If the immediately preceding ratio computation was between 30% and 36 2/3% (inclusive), then the reduction in the county's reimbursement shall be 15%.
TOM CRAWFORD