An alternative
While we all know about the Glenn Richardson's plan to eliminate the property tax and replace it with, well, taxes on everything (stamping out local control in the process), it's refreshing to see Democrats in the Georgia General Assembly put forward an alternative plan that not only alleviates property taxes but also funds education.
HB 1057, which was proposed last week, will provide funds to all counties pulled from the state's $1.6 billion reserve fund. The funding received will be dedicated to the Quality Basic Education formula that funds public education, but hasn't been fully funded in years.
The additional funds - $300 million this year and $300 million next year - will take some funding burden off of communities and incentivize them to reduce property taxes. Accounting for future growth, including spending spurred by property tax reduction, this will only affect 15 percent of the existing reserve fund.
To me, this makes perfect sense. It's the state fulfilling its obligation to QBE, while letting local governments reduce property taxes as they see fit. Rarely do you have win-win, but this is one of the better proposals I've seen in a long, long time.
And this is good to see. I'm not a huge fan of merely opposing something without offering a counterproposal, and it's nice to see Georgia Democrats offering a clear alternative.
HB 1057, which was proposed last week, will provide funds to all counties pulled from the state's $1.6 billion reserve fund. The funding received will be dedicated to the Quality Basic Education formula that funds public education, but hasn't been fully funded in years.
The additional funds - $300 million this year and $300 million next year - will take some funding burden off of communities and incentivize them to reduce property taxes. Accounting for future growth, including spending spurred by property tax reduction, this will only affect 15 percent of the existing reserve fund.
To me, this makes perfect sense. It's the state fulfilling its obligation to QBE, while letting local governments reduce property taxes as they see fit. Rarely do you have win-win, but this is one of the better proposals I've seen in a long, long time.
And this is good to see. I'm not a huge fan of merely opposing something without offering a counterproposal, and it's nice to see Georgia Democrats offering a clear alternative.
posted by Jmac at 8:52 AM
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