Statutes, codes, and regulations
Code of Federal Regulations
Title 34 - EDUCATIONSubtitle B - REGULATIONS OF THE OFFICES OF THE DEPARTMENT OF EDUCATIONChapter II - OFFICE OF ELEMENTARY AND SECONDARY EDUCATION, DEPARTMENT OF EDUCATIONPart 222 - IMPACT AID PROGRAMS
Subpart B - PAYMENTS FOR FEDERAL PROPERTY UNDER SECTION 8002 OF THE ACT
Section 222.24 - How does a local educational agency that has multiple tax rates for real property classifications derive a single real property tax rate?

34 C.F.R. § 222.24

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Section 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.

34 C.F.R. §222.24

81 FR 64741, Sept. 20, 2016

Authority: 20 U.S.C. 7702

81 FR 64741, 1/31/2017