PRESS RELEASE: MARION COUNTY BOARD OF EDUCATION HB581 OPT OUT
January 10, 2025
The Marion County Board of Education would like to announce that it plans to opt out of the homestead exemption offered by House Bill 581 (HB 581).
HB 581, passed by the Georgia General Assembly in 2024, 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’s 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 non-homesteaded properties such as businesses and income-producing rental properties.
State legislation provides school districts only one opportunity to opt out. By not opting out, the Marion County Board of Education 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 Marion County Board of Education feels opting out would be the best option to protect the financial stability of its schools and protect public education in the community.
To opt out, the Marion County Board of Education must hold three public hearings. The public hearings are scheduled for January 23, 2025, at 6:00 PM, February 3, 2025, at 5:00 PM and February 12, 2025, at 5:00 PM. All hearings will be held at the administrative offices located at 1697 Pineville Road, Buena Vista, GA 31803. Citizens may address the Marion County Board of Education at any of the three meetings. A sign-up sheet will be available at the hearings for those wishing to speak. There is no need to sign up in advance of the meeting date.
Following the public hearings, the Marion County Board of Education will vote on the resolution to opt out of HB 581 at the board meeting scheduled for 5:00 PM on February 18, 2025.