The Fayette County Board of Education will hold three public hearings in January and February which allow the board to consider opting out of the statewide adjusted base year ad valorem homestead exemption for the Fayette County Public School System.
All concerned citizens are invited to the public hearing on this matter to be held at Fayette County Board of Education, Lafayette Education Center, 205 Lafayette Ave. Fayetteville, GA 30214 on January 27, 2025 at 6:30 PM. Times and places of additional public hearings on this matter are at the same location on February 10, 2025 at 11:45 AM and February 24, 2025 at 6:30 PM.
In 2024, the Georgia General Assembly passed, and Governor Kemp signed, HB 581 (O.C.G.A. 48-5-44.2) which impacts property taxes for cities, counties, and school districts. The bill creates a statewide floating homestead exemption which has a direct impact on school districts as an inflation cap on property tax assessments. The bill required a constitutional amendment (HR 1022), which passed with public approval on November 5, 2024.
The constitutional amendment approved by voters allows any county, consolidated government, municipality, or local school system a single opportunity to opt out of the exemption by March 1, 2025, upon the completion of certain procedures, including the holding of three public hearings.
The Fayette County Board of Education intends to opt out of the statewide adjusted base year ad valorem homestead exemption for Fayette County Public Schools. Fayette County currently has in place a base year homestead tax exemption that was implemented in 2021. The statewide exemption would require county officials to calculate and track both exemptions each year and potentially be cumbersome and confusing for property owners. The current exemption provides on average $1,150 in reduced property taxes to over 21,800 homesteaded property owners.
Additional information: www.fcboe.org/Page/105
