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10 <br /> LOCAL SCHOOL FINANCE STUDY 2020: <br /> GAPS AND TRENDS <br /> The primary source of revenue for county government is WIDENING REAL ESTATE WEALTH GAP <br /> local property taxes.This year,our study once again revealed <br /> wide variation between the property values and revenues <br /> generated between the state's wealthiest and poorest <br /> counties.This year also saw the continuation of marked 2,500,000 <br /> differences in local spending per child across districts. <br /> POOREST COUNTIES TAXED THEMSELVES 2,000,000 <br /> AT HIGHER RATES WHILE STILL GENERATING <br /> SUBSTANTIALLY LESS REVENUE <br /> FOR EDUCATION 1,500,000 <br /> In 2017-2018,the ten poorest counties taxed themselves at <br /> nearly double the rate of the ten wealthiest counties—$0.81 1,000,000 <br /> compared to$0.45,a 36-cent difference. Because of the <br /> disparity in real estate wealth capacity,the revenue the <br /> poorest counties could generate was substantially lower than 500,000 <br /> what the wealthier counties could generate.The poorest <br /> counties have raised their tax rates,while the wealthiest <br /> counties have been able to lower theirs,and yet the <br /> substantial revenue disparity persists. <br /> The taxable real estate gap between the top and bottom �A ���0� y��1�0��O�LOB yO�yyO�yO�yO�yO �O���1,yOL01�01��1�O�v�1��� <br /> ten districts was$1.55 million in 2017-18.This discrepancy <br /> decreased slightly in the past several years,after peaking <br /> at$1.69 million in 2012-13 following many years of rapidly The difference in real estate wealth capacity between the ten <br /> increasing wealth inequality.Major factors that contributed to wealthiest and ten poorest counties has grown from$480,120 <br /> the narrowing gap included reductions in real estate wealth in 1998 to$1,551,999.56 in 2017-2018.(See Table 1). <br /> in the wealthiest counties,some counties'2011 revaluations, <br /> and increases in student enrollment in several counties.Still, <br /> as shown in the graph to the right,the gap is much more <br /> substantial than in earlier years,and increased significantly <br /> in 2017-18,resulting in widening inequality in the ability of <br /> districts to fund schools to adequately serve their <br /> students'needs. <br /> DISPARITIES IN REAL ESTATE WEALTH PER ADM (2017-18) <br /> Warren hampton Gates <br /> .in Vance <br /> Granville Hertford <br /> '1 <br /> TOP QUARTILE <br /> SECOND QUARTILE <br /> ❑ THIRD QUARTILE <br /> ❑ BOTTOM QUARTILE <br />