Although the tax rate remains the same, this decision could result in higher property taxes for homeowners due to increased property values.
MACON, Georgia (41NBC/WMGT) – The Bibb County Board of Education on Monday tentatively set a tax rate of 14.674 per thousand for calendar year 2024/fiscal year 2025 and left the rate unchanged.
Although the tax rate remains the same, this decision could result in higher property taxes for homeowners due to increased property values. For a homeowner with a property value of $200,000, this could mean an increase of less than $5 per month, or just under $60 per year, according to the county’s estimate.
The district received the tax summary for the calendar year 2024/Spring 2025 from the Bibb County Tax Commissioner’s office last week. Based on the Bibb County Tax Commissioner’s tax summary, the reset tax rate is 13.886 per thousand. These results were presented to the School Board on Thursday, with the following preliminary tax rate options to be considered before Monday’s meeting:
- Option A: Maintain the current tax rate of 14.674 per thousand (estimated additional revenue of $4.32 million for fiscal year 2025; estimated annual property tax increase of $57.52 for a homeowner with property valued at $200,000)
- Option B: Reduction of 0.50 per thousand to 14.174 per thousand (estimated additional revenue of $1.5 million for fiscal year 2025; estimated annual property tax increase of $21.02 for a homeowner with a property valued at $200,000)
- Option C: Increase of 1 per thousand to 15.674 per thousand (estimated additional revenue of $9.97 million for fiscal year 2025; estimated annual property tax increase of $130.52 for a homeowner with a property valued at $200,000)
- Option D: Full rollback from 0.788 per thousand to 13.886 per thousand (estimated revenue loss of $129,206 for fiscal year 2025; estimated annual property tax increase of $0 for a homeowner with a property valued at $200,000)
The district says the tax rate decision will determine the amount of funds it has available to continue to support current and/or new educational programs, schools, employee salaries and staffing, mentioning in Monday’s edition Board letter that it “could put the district in a better position to compete with surrounding districts in terms of salaries, which would impact recruitment and retention efforts for fiscal year 2025 and beyond.”
The district called supporting recruitment and retention efforts a “key priority” after adopting its fiscal year 2025 budget in June.
To view Monday’s full presentation, which ended with the provisional adoption of “Option A,” Click here.
During Monday’s meeting, the Board discussed the risks associated with lowering the tax rate.
“During the meeting, it was also pointed out that reducing the tax rate to the full rollback rate could put the Bibb County School District at risk of losing important compensatory funds,” said the Board letter stated, “The amount of equalization funding BCSD receives varies each year and is based on an algorithm calculated by the state that is determined by economic factors. Currently, CFO (Eric) Bush estimates that Bibb County is at about 17 mills total under this equalization algorithm. If BCSD were to roll back its tax rate, the district could get dangerously close to a 14 mill baseline. If the district falls below the 14 mill total baseline, the Bibb County School District would no longer qualify to receive equalization funding – which would drain the district’s general fund by millions. For example, BCSD received about $23 million in equalization funding this year, while BCSD received about $12 million in equalization funding last year.”
Because board members chose “Option A,” which maintains a tax rate of 14.674 per thousand, three public hearings must be held. These hearings are required by state law when a higher tax rate than a full rollback is proposed.
- Public Hearing No. 1: Tuesday, September 3, 2024, at 11 a.m. at the Professional Learning Center at the Martin-Whitley Educational Complex, 2003 Riverside Drive, Macon, GA
- Public Hearing No. 2: Tuesday, September 3, 2024, at 6 p.m. in the Professional Learning Center at the Martin-Whitley Educational Complex, Macon, GA
- Public Hearing No. 3: Tuesday, September 10, 2024, 5 p.m. at the Main Office, 484 Mulberry Street, Fourth Floor Boardroom, Macon, GA
The meeting for final adoption is scheduled for Tuesday, September 10, at 5:30 p.m. in the fourth floor meeting room at 484 Mulberry Street.
For more information about attending public hearings, see the Board Policy BCBI: Public Attendance at Board Meetings on Simbli. HereA copy of the application form for a speech to the Board can be found on Simbli Here.
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