A few years ago, the voters of Fayette County decided to limit the school property tax growth due to increased property value to three percent a year. The remainder of the growth is restricted by a homestead exemption. Others argue that this additional homestead exemption unfairly limits the funds available to our schools. I disagree.
It’s important to note that in the current salary market a raise of three percent is considered at least standard if not more. The paychecks of Fayette County families have not maintained pace with the growth in costs in the current economy. Worse, even if the property increased in value more than three percent, the property owner does not have access to that cash unless they sell that property.
Now, there is a bill (SB 349) in our Georgia Senate to limit all property valuation increases at 3% which would equalize Fayette’s homestead exemption with all other systems. Today, many systems use double digit property growth to cover the increased school costs of recent years without raising school tax rates.
With a standard homestead exemption across Georgia, many systems, not just Fayette, will have to consider raising rates to maintain their school systems or decide to eliminate options for students. Fayette is already signaling they will eliminate teaching positions and increase class size, thus decreasing “the Fayette Advantage.”
Fayette County school tax is currently at 19.25 mills, which is near the maximum of twenty mills allowed by law without the permission of the voters.
That last part is important. The FCBOE can ask the voters to allow them to increase the school property tax over twenty mills. Currently there are a few systems over twenty mills with DeKalb the most notable at 22.98 mills.
Some will argue that we are taxed enough and that the schools must “live within their means.” Fayette is one of the few counties that voted down an ESPLOST. We the voters have…
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