The following was released today by the Clarke County School District:

The Clarke County Board of Education intends to opt out of the statewide adjusted base year ad valorem homestead exemption for the Clarke County School District and has announced the three required public hearings as part of that process. The hearings have been scheduled for the following dates and times in the Vernon Payne Meeting Hall at the District Office, located at 595 Prince Ave., Athens:

● 6 p.m. Tuesday, Jan. 14

● 6 p.m. Tuesday, Jan. 21

● 6 p.m. Tuesday, Jan. 28.

Georgia House Bill 581 (HB 581) is expected to negatively impact local schools by significantly limiting the funding that school districts receive for their operations. Property taxes account for 57% of CCSD’s General Fund revenue – $135 million in the current fiscal year with a millage rate of 18.8 mills.

HB 581 establishes a statewide floating homestead exemption that limits the annual increase in property tax assessments on homesteaded properties to the inflation rate of the previous year. For example, if a home increases in value by 5% but the previous year inflation rate is 2%, the home will only be valued at 2% more. While the legislation would reduce the tax burden on homeowners on the surface, it could lead to an increase in the millage rate to offset the revenue difference, which would shift the tax burden to businesses and income-producing rental properties.

The state legislation provides school districts only one opportunity to opt out, and by not opting out the district and BOE would lose local control over property-tax policies along with the ability to tailor tax rates and exemptions to specific community needs and fiscal conditions.

The three public hearings are the first step in the opt-out process. Following the hearings, the board is scheduled to take action on an opt-out resolution at its regular meeting scheduled for 7 p.m. Thursday, Feb. 13. If passed, the resolution is due to the Georgia Secretary of State’s office by March 1.

It is important to note that this decision to opt out will not affect any existing exemptions for Clarke County residents.