The Richmond County School System (RCSS) mirrored the Columbia County School District with its opt out of House Bill 581, a decision solidified with a 9-1 vote on Feb. 18.
Monique Braswell was the sole board member voting against the opt out.
House Bill 581 (HB 581) seeks to provide relief and clarity to taxpayers by offering a statewide floating homestead exemption, an optional sales tax to further offset property taxes and property tax process reforms.
The homestead exemption changes the way homestead properties are reassessed for taxable purposes each year. It caps the percentage a home can be reassessed each year by a rate established by the state revenue commissioner.
MORE: Augusta holds final public hearing, takes no action on HB 581
Benefits of opting out for the school district
“Our concern with the increase of the exemptions long term is it could potentially limit [the district’s] ability to collect taxes in future years,” said RCSS District Chief Financial Officer Bobby Smith.
Smith said the money raised by the district through these taxes is essential for hiring staff and introducing quality programs to schools.
He added that the district conducted a preliminary estimate of how much funding would be lost to the district over the past four years, if the bill had been in place throughout that time. “We estimated approximately eight million dollars of lost funding.”
MORE: Columbia County holds final public hearing on House Bill 581
Stovall on board members’ decision making process
Board President Shawnda Stovall said that the board, while making their decision, took into consideration other homeowners exemptions that Richmond County already offers.
“There’s about 20 exemptions that homeowners already have,” she said.
She said the board’s overall mentality is a focus on what will most benefit the students in the district.
“Our students deserve to have the very best of their education in any way that we can make that happen, we’re all in one accord to do so,” she said.
