The Putnam County Board of Education discussed the additional tax exemption in more length on Tuesday.
At the work session last week, Superintendent Eric Arena presented an additional proposed tax exemption to the board. For this exemption, if the assessed value of homestead for seniors is $100,000 or less, the senior would not have to pay any school taxes. From $100,001 up to $250,000, that senior would only have to pay half of the school taxes. From $250,001 to $500,000, seniors would receive a 25% reduction on their school taxes.
“We’ll talk with the legislative delegation between now and the December meeting and we’ll talk to the lawyers between now and then to get all of the information that needs to be approved,” said Arena.
“Dr. Weiner and I met with [Tax Assessor] Chuck Anglin from this standpoint and realized that moving forward the exemption numbers could grow over time.”
Arena states that the next steps will be working with their lawyers to approve the language of the exemption and bring it to the board for approval in December. If the board approves the language, then it will be taken to the general assembly during legislation in 2024, and if it is approved through legislation then Putnam County voters would vote on the exemption in November 2024.
“I think it’s important that it goes with that election because that is one where a large number of people vote, as opposed to 10 or 15 percent of the population,” said Dr. Steve Weiner, board chairman. “As we all know, once somebody decreases somebody’s taxes, it’s almost impossible to reverse it. So, I want to be sure that lots of folks have an opportunity to weigh in on it.”
If that voting were to pass in November, the exemption would take effect in January 2025. With no questions being asked, Arena and the board agreed to start the next steps of specifying the language of the exemption.
The next general board meeting will be held on Dec. 11 at 6 p.m., when the board will vote on the additional tax exemption.