M./1ft EXPLANATION OF GOVERNOR'S TAX RELIEF PROPOSAL 1. $90 per student in 1980, $100 per student in 1981, allocated based on the wealth of this district. 2. Must reduce taxes to receive the funds. 3. Ten percent increase in overall operating funds allowed in 1980. 4. Average tax reductions of 14 percent but varies from district to district. In general, districts with lower wealth and/or lower maintenance taxes per student tend to have greater percentage reductions. 5. Property tax increases cannot exceed 7 percent in 1981. 6. $200 million tax reduction in 1980. 411 7. $800 million tax relief in total, compared with what districts would probably raise if no action were to take place. •
