The Floyd County Board of Education announced on Monday that it will not opt out of House Bill 581, thus allowing taxpayers to be able to use the homestead tax break for school taxes.
The bill creates a floating homestead exemption based on the inflation rate.
As a result of the opt-out, the third public hearing that was scheduled for Wednesday, January 29th has been canceled.
Floyd County Schools Superintendent Glenn White said, “Due to our previous financial decisions, we are currently well-positioned to weather situations like this. Under my leadership, there has always been room for saving and for spending wisely and we will continue that practice. We are well-positioned to continue focusing on what matters most: our students, our staff, and our faculty.”
