PUBPOL School Finance Final Exam
Prep Questions and Answers
Capital Stock - Answer-the amount of money a district has invested in their school facilities; often
reported in per pupil terms
Tax Base - Answer-the average property value in a district
Tax Rate - Answer-fraction of property value paid by homeowners
Millage - Answer-A rate of taxation for real property calculated as $1 per $1,000 (or .001) of assessed
value.
Horizontal Equity - Answer-Goal is to provide equal per-pupil revenue across districts regardless of
property wealth
"equal treatment of equals"
Vertical Equity - Answer-Goal is to provide higher per-pupil funding for studentswith greater need
"unequal treatment of unequals"
Prep Questions and Answers
Capital Stock - Answer-the amount of money a district has invested in their school facilities; often
reported in per pupil terms
Tax Base - Answer-the average property value in a district
Tax Rate - Answer-fraction of property value paid by homeowners
Millage - Answer-A rate of taxation for real property calculated as $1 per $1,000 (or .001) of assessed
value.
Horizontal Equity - Answer-Goal is to provide equal per-pupil revenue across districts regardless of
property wealth
"equal treatment of equals"
Vertical Equity - Answer-Goal is to provide higher per-pupil funding for studentswith greater need
"unequal treatment of unequals"
