Gordon County Schools Address Potential Impact of Georgia HB 581 on Local Funding and Long-Term Financial Stability
The Gordon County Board of Education announces its intention to opt out of Georgia House Bill (HB) 581, which will establish a statewide floating homestead exemption. This new legislation limits the annual increase in property tax assessments on homesteaded properties, and local education leaders are concerned about its potential long-term effects on the school district’s finances.
The impact of HB 581 is far-reaching for Gordon County Schools, as local property taxes provide significant funding for essential services, including teacher salaries. If the district remains opted into the floating homestead exemption, it could disrupt long-term fiscal planning and the district's ability to generate sufficient revenue.
Under HB 581, the district may face increased reliance on state and federal funding sources, which would create budgetary challenges, especially since funding mechanisms like the Quality Basic Education (QBE) funding are not adjusted for inflation. Local property tax revenue is critical to help bridge this gap.
Failure to opt out now would permanently lock the district into the floating homestead exemption, potentially jeopardizing its financial health and sustainability for years to come. Opting out of HB 581 is essential to safeguard the long-term fiscal health of Gordon County Schools. The Board of Education must make this decision now to ensure the ability to continue providing high-quality education and services to the students of Gordon County.
The Board of Education is committed to making the best decisions for the future of the community’s schools and students.
All concerned citizens are invited to the public hearings to be held at the Gordon County Schools Central Office, 7300 Fairmount Highway, Calhoun, GA on Thursday, January 16, 2025 at 8:00 a.m., Thursday, January 23, 2025 at 12:00 p.m., and Monday, February 3, 2025 at 6:00 p.m.