Senate Bill 483 mandates that property tax bills in Wisconsin include specific information regarding reductions in state aid to school districts. This information must detail the gross reduction in state aid due to pupils enrolled in various parental choice programs, including the statewide parental choice program, the Racine Parental Choice Program, and the Milwaukee Parental Choice Program, as well as payments made to private schools under the Special Needs Scholarship Program. The bill stipulates that this information should cover both the previous and current years, along with the percentage change between those years, unless no reduction occurs.

Additionally, the bill requires the inclusion of a standardized insert that explicitly states the gross reduction in state aid for the current year, the specific choice program involved, and notes that the school district had the option to increase property taxes to compensate for the aid reduction. This new requirement aims to enhance transparency for property owners regarding the financial impacts of state aid reductions on their local school districts.