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Posted on: August 10, 2022

Revenue Neutral Rate Notice Explanation

The revenue neutral rate (RNR) is the mill levy rate that would generate the exact the same amount of property tax revenue as the year before, using the current tax year's total assessed valuation. Revenue neutral is when a taxing jurisdiction budgets the exact same amount of property tax revenue, in dollars, for the upcoming budget year as they did for the current year. 

For example: If a taxing entity uses $1 million of property tax revenue in 2022, being revenue neutral means they plan to only use $1 million in 2023 as well.

If a taxing jurisdiction plans to use more property tax revenue in the next budget year compared to the current year, even $1 more, they would exceed revenue neutral and need to hold a public hearing.

Due to new law in place to promote transparency, Butler County desires to help property owners understand the notification they receive, as property owners are going to receive a fairly technical letter in the mail explaining each jurisdiction's intent (or non-intent) to exceed revenue neutral (use more property revenues than the year before.)

To view a more detailed explanation of the RNR Notice property owners will receive in the mail click HERE

For more information or assistance with questions contact the Butler County Clerk's Office at 316-322-4239 or visit their webpage at https://www.bucoks.com/176/Clerks-Office.

 

Revenue Neutral Rate Notice Explanation
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