34 CFR 222.24 - How does a local educational agency that has multiple tax rates for real property classifications derive a single real property tax rate?

Regulations last checked for updates: May 17, 2024

Title 34 - Education last revised: Apr 29, 2024

View all text of Subpart B [§ 222.20 - § 222.29]

§ 222.24 - How does a local educational agency that has multiple tax rates for real property classifications derive a single real property tax rate?

An LEA that has multiple tax rates for real property classifications derives a single tax rate for the purposes of determining its Section 7002 maximum payment by dividing the total revenues for current expenditures it received from local real property taxes by the total taxable value of real property located within the boundaries of the LEA. These data are from the fiscal year prior to the fiscal year in which the applicant seeks assistance.

(Authority: 20 U.S.C. 7702) [81 FR 64741, Sept. 20, 2016]

authority: 20 U.S.C. 7701-7714; Pub. L. 111-256, 124 Stat. 2643; unless otherwise noted

source: 60 FR 50778, Sept. 29, 1995, unless otherwise noted.

cite as: 34 CFR 222.24