Cheryl Shaw and Suzann Wilcox led a webinar on Wednesday, June 5, discussing the implications of Georgia House Bill 581 on school districts. The new law, passed earlier this year, introduces significant changes that could affect property tax revenues for school districts, contingent upon a constitutional amendment passing in the statewide referendum in November 2024.

Cheryl and Suzann covered the following topics:

• Statewide homestead exemption: Understanding the cap on value increases for homestead properties and the implications for school districts if the constitutional amendment passes.
• Opt-out provisions: Discussion of opt-out requirements, procedures, and timing implications.
• Estimated-roll back rate: Explanation of the new estimated roll-back rate definition and its impact on millage procedures.
• Assessment appeals: Changes to the property assessment appeals process, including the lock-in period for reduced property values and conditions under which temporary tax reductions and attorney fees are not awarded.
• Special sales and use tax for property tax relief: Authorization and requirements for a new special sales and use tax aimed at providing property tax relief, subject to local referendum approval and intergovernmental agreements.

School districts are encouraged to analyze the impact of these changes on their anticipated revenues and prepare for potential actions if the referendum passes. This webinar provided essential insights and guidance to help school districts navigate these new requirements.

Follow this link to replay the webinar. You can view the presentation slides by clicking here.