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What is a Special Purpose Local Option
Sales Tax (SPLOST) for education?
A “SPLOST” is the option that a local school
district has to call for a referendum to approve a one percent
sales tax for school construction and/or to retire bond debt.
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Is
this an additional tax?
No. This is a continuation of the current
penny sales tax for education. It will not change
the existing sales tax in Floyd County.
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Will the
continuation of the SPLOST increase my property tax?
No. The penny sales tax shifts some
of the responsibility of providing quality educational
facilities from property owners to all citizens (and
visitors) of the community. Approximately
40% of the funding will be provided by citizens living
outside the Rome/Floyd County area.
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What will
continuing the SPLOST accomplish?
Reducing overcrowding, providing improved technology and
creating a better learning environment will provide our
children with the quality learning environment they deserve.
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How much will the Education
SPLOST III generate over its five-year period if renewed?
Approximately $80,650,000 will be generated if monthly
collections remain flat over a five-year period. The
maximum Education SPLOST III collection has been set at
$88,900,000 reflecting a 3% annual growth rate in the SPLOST. Education
SPLOST II funds will be divided between Rome City and Floyd
County Schools using the latest student enrollment figures,
which means that Rome City will receive approximately 34%
and Floyd County Schools will receive approximately 66%.
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Why
can’t lottery funds be
used to fund these projects?
Currently, Floyd County Schools receive no funding for
K-12 educational purposes from the Georgia Lottery. Lottery
proceeds only fund the state Pre-K program and the Hope
Scholarship. Also,
by law, school systems cannot use lottery funds for school
renovations and construction projects.