FCS Property Tax Relief

Places a cap on reassessed property values in order to limit increases in the taxable value of a homestead property. Until the property is sold, the taxable increases from its base year cannot exceed 4% annually.

Effective 1/1/2025

Locally crafted legislation developed through collaborative efforts of Forsyth County Schools Board of Education and Forsyth County's local State Delegation. Legislation was approved by referendum.

There is no option to opt out. HB717 is currently in place.

This legislation expires in 2035.

Development of HB 717 included examination and analysis of local historical economic trends, recent budgetary considerations, and the expectations of the school system by Forsyth County citizens. A set cap of 4% annual increases allows some level of predictability for long-term budget planning.

Negative potential impacts could include budget constraints resulting in the limitation of services, staff cutbacks, millage rate increases, etc. A ten-year sunset allows Forsyth leaders to assess the impact of the cap and adjust for future educational needs. 

Place a cap on reassessed property values in order to limit increases in the taxable value of a homestead property. Until the property is sold, the annual taxable increases from its base year cannot exceed the rate of inflation as determined by the Commissioner of the Georgia Department of Revenue.

Effective 1/1/2025 unless opted-out

Statewide legislation approved by statewide referendum.

There is a one-time opt out opportunity available to local boards of education that must be conducted between January 1st and March 1st of 2025.

There is no sunset (expiration) date on this legislation.

Inflation indicators may not reflect trends in Forsyth County's local economy. 

Tools used to determine inflation rates are unclear. Predicting revenue for thorough, long-term budget planning will be difficult due to volatility in inflation rates.

Negative potential impacts could include budget constraints resulting in the limitation of services, staff cutbacks, millage rate increases, etc.

The lack of a sunset date deprives Forsyth leaders any opportunity to assess the impact of the cap and adjust as needed for future educational needs.