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ATTACHMENT B <br /> > LOCAL SCHOOL FINANCE STUDY 2019: GAPS AND TRENDS <br /> The primary source of revenue for county government is local ............................................................................................................................................................................... <br /> property taxes.This year, our study once again revealed wide WIDENING REAL ESTATE WEALTH GAP <br /> variation between the property values and revenues generated <br /> between the state's wealthiest and poorest counties.This year <br /> also saw the continuation of marked differences in spending per <br /> child across districts. <br /> 2,500,000 <br /> POOREST COUNTIES TAXED THEMSELVES AT <br /> HIGHER RATES WHILE STILL GENERATING <br /> SUBSTANTIALLY LESS REVENUE FOR EDUCATION 2,000,000 <br /> The ten poorest counties taxed themselves at nearly double <br /> the rate of the ten wealthiest counties- $0.81 compared to 1,500,000 <br /> $0.44, a 37-cent difference. Despite having higher tax rates <br /> than wealthier districts,the revenue the poorest counties could <br /> generate was still substantially lower than that of wealthier 1,000,000 <br /> counties.The poorest counties have raised their tax rates,while <br /> wealthiest counties have been able to lower theirs, and yet the <br /> substantial revenue disparity persists. 500,000 <br /> In 2016-2017,the taxable real estate gap between the top and <br /> bottom ten districts was $1.49 million.This discrepancy has <br /> decreased somewhat in the past several years,after peaking <br /> at $1.69 million in 2012-13, following many years of rapidly �o �a��0°00°00 Doti°o�ooaoo`�oo°°o^oo�oo°°.° 01 ti 01�OHO°O�O ti°p <br /> , ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti <br /> increasing wealth inequality. Major factors that contributed to <br /> the narrowing gap included reductions in real estate wealth in <br /> the wealthiest counties, some counties'2011 revaluations, and The difference in real estate wealth capacity between the ten wealthiest <br /> increases in student enrollment in several counties. Still, as and ten poorest counties has grown from$477,477 in 1997 to$1,498,804 in <br /> shown in the graph below,the gap is much more substantial 2017.(See Table 1) <br /> than in earlier years, resulting in widening inequality in the <br /> ability of districts to fund schools to adequately serve their <br /> students' needs. <br /> DISPARITIES IN REAL ESTATE WEALTH PER ADM <br /> '1 <br /> TOP QUARTILE <br /> SECOND QUARTILE <br /> THIRD QUARTILE <br /> BOTTOM QUARTILE <br /> >10 <br />