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Finance director outlines FY26 budget risks after reassessment, cites $650M in exemptions and frozen homestead values
Summary
The district finance director told the board that reassessments and a large rise in exemption totals — driven in part by the district’s opt-in to a floating homestead exemption under House Bill 581 — complicate FY26 revenue projections and budget planning.
The Catoosa County schools finance director presented a budget progress report on June 3 that emphasized how reassessments and new exemptions will affect the district’s FY26 revenue projections and millage-rate decisions.
District staff said the county board of assessors approved about $222 million in increased assessed value for existing property, but new exemptions and the district’s opt-in to the House Bill 581 floating homestead exemption mean the net taxable reassessment value is substantially smaller. The presentation identified about $39.7 million in new property growth that was largely offset by $40.1…
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