72-6622. Property acquired by two cities under K.S.A. 3-404; taxation for school district purposes, valuation, rate, allocation of proceeds.
72-6622
72-6622. Property acquired by two cities under K.S.A. 3-404; taxation forschool district purposes, valuation, rate, allocation of proceeds.In the event that all of the property acquired by any two cities underthe provisions of K.S.A. 3-404 et seq. is included within theterritory of a unified school district in which only one of such cities islocated:
(a) One-half of the assessed valuation of such property shall beassigned to each of the two school districts in which such cities arelocated for the purposes of determining the assessed valuation of eachdistrict for (1) entitlement to supplemental general state aid under the school districtfinance and quality performance act, and (2) entitlement to payment from theschool district capital improvements fund;
(b) The revenue to be received by each district under subsection (c) shallbe used as a receipt by such district in computing itsad valorem tax requirement for each tax levy fund; and
(c) Such property shall be subject to taxation for school purposes at arate equal to the aggregate of all rates imposed for school purposes uponproperty located within the school district in which such property islocated, but one-half of the proceeds derived from such levy shall beallocated to each of the two school districts in which such cities arelocated.
History: L. 1974, ch. 307, § 2;L. 1993, ch. 264, § 3; April 29.