Atlanta schools want its money back.
School officials are meeting this week with the Atlanta Development Authority to take back some of the $18 million in school property tax money slated to fund community redevelopment projects.
School board members say they need to renegotiate the term of the tax allocation district (TAD) because of cuts in state funding and lower property revenue. If the two don’t reach an agreement, the school board said it will keep all $18 million.
TADs redirect future increases in property tax collections to help pay for projects within a set area. (School taxes make up most of all property tax revenue.)
Opponents of the program say money raised for schools should remain for education.
Proponents say the program revitalizes communities and that the money pays off in the end because of increased taxes on higher-end development.
The Georgia Supreme Court last year banned cities and counties from using public school taxes for the subsidies. A bill passed by the Legislature this session makes the TAD money legal again, but allows school districts to opt out if they previously agreed to participate.
Considering all the budget problems school face, it is time to put TAD to rest?
ALSO: The state Board of Regents has discontinued a policy that guaranteed freshmen would pay the same tuition for four years.