The Carroll County Board of Education intends to opt out of statewide adjusted base year ad valorem homestead exemption for the Carroll County School District in order to retain local control of taxing authority and will hold public hearings to get input on this proposed decision.
While the original legislation creating the exemption aims to provide property tax relief, it also limits funding available for schools, potentially impacting classroom instruction and school programs.
To illustrate, if this statewide exemption had been in place for the last 5 years, Carroll County School’s funding would have been reduced by as much as $21 million this year – the equivalent of at least 200 teaching positions. The legislation provides no new mechanism for local schools to replace this lost revenue.
If the school board does not opt out, the state will have control of the local homestead exemption. By opting out, the locally elected school board retains the authority to set property taxes to meet the needs of local schools.
Public hearings for local input will be held at the board office at 164 Independence Drive in Carrollton on January 13 at 5 p.m., January 21 at noon and January 21 at 6 p.m.
