That places

the senior tax exemption referendum question on the same March 19 ballot

with another school board referendum: extension of the current one-cent

Education Local Option Sales Tax.

The structure

of the proposed senior tax exemption increase was worked out by a citizens'

committee of senior citizens convened last year by board member Allan

Payton.

The Senior

Citizen Property Tax referendum will call for raising property tax exemptions

to exempt the first $40,000 of assessed value for Coweta County property

owners aged 65 to 70; $60,000 assessed value for citizens aged 71 to 74;

and $80,000 assessed value for citizens aged 75 and over.

If approved

tax bills, according to state law.

The extension

of the current Education Local Option Sales Tax, or "ELOST,"

would collect up to $97 million in sales tax revenues over five years;

the current ELOST will expire June 30, 2002.

Renewal of

the ELOST, if approved by voters, would fund the payment of all school

system bond issues still outstanding and would result in a subsequent

1.6 mill property tax reduction starting in 2003.

It would also

fund up to $61 million (depending on actual collections) in school construction

and refurbishment, classroom expansion, technology and other capital expenditures

through 2007, to accommodate an anticipated school system growth of 4,500

students over the next five years.