Schools/Education Atlanta Public Schools

Published on September 14th, 2016 |

1

Atlanta Public Schools needs to borrow $60M due to Fulton’s tax bills delay

Atlanta Public Schools reportedly will borrow $60 million to cover an expected cash flow gap caused by Fulton County’s delay in sending out tax bills. Interest on the short-term loan will cost the school district’s taxpayers $148,080.

Earlier this summer, Fulton County discovered an error in the way the county calculated property tax exemptions. Fixing the error has taken weeks, and means that tax bills will not be sent before mid-September, and payment would not be due until November, at the earliest.

The total amount is less than the board had previously considered. Last month, the board had voted to authorize borrowing up to $175 million to cover payroll and other costs.

 

Print Friendly

Be Sociable, Share!


    About the Author



    One Response to Atlanta Public Schools needs to borrow $60M due to Fulton’s tax bills delay

    1. Buckhead Betty says:

      Another prime example of government’s incompetency. So we, the taxpayer’s, are on the hook for an additional $148,080, due to a Fulton County error in the way they calculate homestead exemptions. If the taxpayer makes an error, he/she pays the penalty, but if the government makes the error, again the taxpayer pays the penalty. What kind of warped world is this?

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Back to Top ↑
    • Grab BuckheadView!

    • Follow Us

       

    • Visit Our Other Publications

    • Ad
    • Ad

    • BuckheadGuidebook