Montgomery Area Association of REALTORS® Supports Upcoming Vote on Property Tax Increase
September 8, 2020
The Montgomery Area Association of REALTORS® on Tuesday announced its support of the proposed property tax increase on the ballot in the upcoming November 3 election. If approved, this increase would directly benefit Montgomery Public Schools, bringing in an estimated $33 million per year.
"These increased revenues are a key factor to securing the future of Montgomery,” said Brad Owen, Montgomery Area Association of REALTORS® Association Executive. “This vote is about investing in Montgomery's students and providing them with the quality education they deserve. As REALTORS®, we understand the vital role the quality of our schools plays in our economy, our ability to attract new business, and our communities as a whole."
What does this mean for taxpayers?
Montgomery Public Schools (MPS) currently receives the lowest amount of local funds legally allowed by the state of Alabama for property taxes – 10 mills – while neighboring school systems have well over twice that amount. The property tax would increase the millage rate by 12 mills which equates to a $1.20 tax increase on every $100 of assessed property value. The ad valorem tax proposal would bring the property tax rate to 22 mills in Montgomery County. All of the money would go to MPS. Residents of the Town of Pike Road would not be affected by this increase since they are a part of the Pike Road school district.
According to Educate MGM, “the additional revenue would be used to fund improved academic curriculum, career and skills training programs, and hiring more high-quality teachers in every classroom. Part of the funding would also be used to make major repairs and renovations to existing run-down school facilities.”
Strict accountability measures were put in place by the legislature for this vote. The school board has created a detailed accountability plan for how the money will be spent, including annual audits and oversight.
“Our children deserve more than the bare minimum,” said Owen. “A vote in favor of this tax increase is a vote for the future of our children and our community.”
You can learn more about the proposed legislation here.