School Property Taxes, a thing of the past?

By
Real Estate Agent with Keller Williams Coastal Area Partners

 TaxesSchool Property Taxes - Will elimination bring a tax break?

If you have been keeping up with the news, then I am sure you have heard about Georgia House Speaker Glenn Richardson's plan to eliminate school property taxes as well as taxes on vehicles. According to his plan, schools will be funded by expanding the sales tax to groceries and services. They say that this could be a huge tax break for homeowners. But is it really?

One way to determine if you will be receiving a tax break is to calculate how much money you have spent on groceries and services. Multiply that amount by the sales tax in your area to give you the amount of money that will go to taxes. Compare this number with your school property tax bill and see if you will be saving money. Also, keep in mind that the taxes you pay on food and services can be deducted on your income tax return just like the school property taxes you paid.

The major complaint for local school officials is that the money will be controlled by the state. Therefore, getting funds for paying educators and other bills may be harder.

Taking all this into account, is there really any benefit to homeowners? What do you think?

Comments (1)

Anonymous
Deborah Harris, McDonough, GA

I think in some ways, it would be fairer to people who do not or no longer have kids in the oublic school system.  I feel that as a person who has never had children, I should not be held to the same standard of payment towards school property tax.  I do not mind paying property taxes because it benefits the county that I reside in, but more than half of my property taxes go toward school taxes.  I fully support education, but I feel that people who do not have kids or kids in the school system should receive some type of credit or discount as we do not benefit directly from the school system  I have been told that multi-family properties do not pay property taxes- but apartment complexes are full of children who go to public schools.  I sent Glenn Richardson an e-mail when I found out he was trying to pass a bill to eliminate property taxes, but never received a reply.  I still wish to pursue this as it bothers me each time I get a tax bill.  I heard that California stopped having property taxes and their school system went downhill soon thereafter.

Jul 31, 2008 11:04 AM
#1