Richmond County Board of Education opts out of tax law
AUGUSTA, Ga. (WRDW/WAGT) - After hosting the required number of public hearings, the Richmond County Board of Education voted Tuesday to opt out of a new homestead tax exemption law.
The voter-approved law establishes a “floating” homestead exemption that caps increases in property taxes. But because of the financial impact, local governments like school districts can opt out of the new law.
That’s what the local school board did in a 9-1 vote.
What does homestead exemption law mean for you?
With the new year comes new laws and one such law in Georgia has to do with protecting homeowners from big spikes in property tax values.
Both county governments and boards of education have to each hold three meetings to decide whether they will opt in or out of the cap on property tax increases enacted under the new Georgia law.
The Augusta Commission held its last hearing Tuesday and plans to make a decision next week.
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