What is the name given to the amount raised by taxes for school purposes in a municipal budget?

The term "School Tax Rate" refers specifically to the portion of the municipal budget that is raised through taxes for the purpose of funding public schools within that municipality. This rate is typically established as a result of the budget process that takes into account the overall educational funding needs and the local government's ability to generate revenue through property taxes.

The School Tax Rate is crucial as it reflects the financial commitment of the municipality to support local schools, which can directly impact educational quality and resource availability for students. This rate is calculated based on various factors including school district budgets, state funding, and local assessments.

In the context of municipal finance, identifying and understanding the School Tax Rate is essential for municipal finance officers, as it directly influences budgeting decisions, tax assessments, and ultimately, the provision of educational services to residents.