What IS Revenue Neutral Rate (RNR)?

What IS Revenue Neutral Rate (RNR)?
What IS Revenue Neutral Rate (RNR)?

Kansas Senate Bill 13 and House Bill 2104 were crafted on the heals of the legislature removing the existing property tax lid. The replacement legislation set new requirements on public notices and hearings if the proposed budget of the individual taxing entities (cities, counties, subdivisions, etc) intends to exceed the “revenue neutral rate” for that entity.

As defined by the legislation, “reven…