Understanding The Tax CAP
5 Questions
| Total Attempts: 49
How much do you know about the state's tax levy limit (aka, tax cap)? Take our quick quiz now.
Questions and Answers
- 1.Under the new tax levy cap law, my tax bill will only increase by 2%?
- A.
True
- B.
False
- 2.The new law will limit the district's tax levy increase by 2%.
- A.
True
- B.
False
- 3.The tax cap legislation will affect all school districts equally.
- A.
True
- B.
False
- 4.How is the tax levy limit determined for school districts?
- A.
The same as last year.
- B.
An eight-step formula that each school district must use to calculate its individual tax levy limit. In particular, the calculation adjusts a district's tax levy to reflect growth in the local tax base and the rate of inflation or 2 percent (whichever is lower).
- C.
None of the above.
- 5.Is the tax levy limit easy to understand?
- A.
Yes.
- B.
No.
- C.
I always guess "C" in multiple choice.
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