AUGUSTA, Ga. ()- The Richmond County School Board is contemplating a property tax hike which could result in a further financial burden for taxpayers.
Earlier this week, the school board announced Dr. Malinda Cobb as the permanent superintendent.
Now, the BOE is looking at a 5% property tax increase—so we got an idea of what this could mean for homeowners in the school system.
As property values have increased across the county, homeowners say they’re wallets are taking a hard hit.
“I think it’s awful, we’re already paying enough. They’re really not doing anything with the taxes anyway,” said Tonjala Holley.
The board of assessors is required to adjust the tax rate when property values increase.
A 5.3 percent increase is being recommended after a rise in retirement and insurance costs, and a decrease in state funding.
“Since our digest has grown, the state assumes you have increased local funds to support local education, so I’m going to reduce your state funding,” stated Bobby Smith, the school system’s chief financial officer.
School leaders have cut down on operation costs and are planning to use $12 million in reserves to avoid a shortfall in the budget.
But they say they’ll have to reach into reserves even more if the tax increase is not approved—and that could mean big problems.
“Instead of utilizing $12 million in reserves, we would have to use $19 million. Our concern is that lowering our reserves too much could harm the financial stability of our school system. We aim to avoid a situation where we need to borrow money to cover payroll before tax income begins,” Smith explained.
The average price of a home in Richmond County is $200,000.
If the tax is approved, the tax bill for the average homeowner would increase by $36.
But it could be even more if commissioners approve their own property tax increase next week.
“It might mean two separate increases from government entities,” Smith noted. “However, with our 5.3% increase, it’s just an additional $2.56 a month. Therefore, we anticipate our raise will be minimal and not severely impact taxpayers.”
“Too much, too much. Everything falls on the back of the taxpayer,” said Leroy Larisey, a school system grandparent.
“3 dollars a month for something that’s going to help educate my child? I’m with it,” Holley said.
Homeowners will have the chance to make their voices heard.
Public hearings will start on August 25th before a final decision is made.
All meetings will be held at the Richmond County Board of Education, with meeting times as follows:
- 1st Public Hearing: Monday, August 25th, starting at 12:00 PM
- 2nd Public Hearing: Monday, August 25th, starting at 6:00 PM
- 3rd Public Hearing: Tuesday, September 2nd, starting at 5:00 PM
