[EdTalks] SC School Funding 101 Part 3: FILOTs and Tax Abatements скачать в хорошем качестве

[EdTalks] SC School Funding 101 Part 3: FILOTs and Tax Abatements

Fee in Lieu of Taxes agreements, or FILOTs, have been a hot-button issue in Greenville County, but what are they, and how do they impact our public schools? This episode of Simple Civics Ed Talks breaks down the complex connection between FILOTs and school funding in Greenville County, revealing how decisions made by our County Council directly affect the resources available for local teachers and students. We explore the central question: are these economic incentives worth the millions in lost revenue for Greenville County Schools? Join Catherine Schumacher of Public Education Partners and guest Derek Lewis, Executive Director of Greenville First Steps and a former Greenville County Schools trustee, as they unpack this critical topic. This discussion is the finale of our three-part series on how South Carolina schools are funded, and we're diving deep into the local consequences of tax abatement programs. We explain in simple terms what are tax abatement programs, including both FILOTs and TIFs (Tax Increment Financing), and clarify the crucial difference between a FILOT and a TIF—specifically, who has the power to approve these deals. While the school district gets a vote on TIFs, FILOTs are negotiated solely by the county, which has led to significant tension and unpredictable budgets. Research shows these programs cost South Carolina schools around $400 million annually, with Greenville County Schools alone losing an estimated $30 million per year—enough to build a new school each year to combat overcrowding. We provide a detailed look at the recent Greenville County Council school budget debate, where a proposal to claw back promised FILOT funds from schools and fire districts sparked a robust civic debate. This incident highlights the core challenge for our school district: the desperate need for predictable funding. The conversation also explores whether Greenville, a rapidly growing community, still needs to offer major tax incentives to attract large industries, or if those resources could be better used to support small businesses. Ultimately, this episode explains why the topic of FILOTs and school funding in Greenville County is about more than just numbers; it's about ensuring our community can hire great teachers, build necessary schools, and provide the education our children deserve. Timestamps / Chapters: (00:00) Introduction: What are FILOTs? (01:52) What are Tax Abatement Programs (FILOTs and TIFs)? (03:50) The Key Difference: Who Controls FILOT vs. TIF Deals? (05:58) The Financial Cost of FILOTs to Greenville County Schools (07:10) Case Study: The 2024 Greenville County Council FILOT Debate (09:56) Economic Growth vs. School Needs: Are Tax Incentives Still Necessary? (11:09) Impact Fees & The Complex System of School Funding (12:11) The Core Issue: Why Predictable Funding is Crucial for Schools (13:11) Final Thoughts & Resources What are your thoughts on using tax incentives for economic development at the potential cost of school funding? Let us know in the comments below! If you found this explanation helpful, please like this video and subscribe for more conversations. #FILOTs #schoolfunding #greenvillecounty #taxabatement #southcarolina #localgovernment #civiceducation #publicschools #economicdevelopment #simplecivics _ Produced by Podcast Studio X: https://podcaststudiox.com Simple Civics: Greenville County is a project of Greater Good Greenville. Support Simple Civics with a tax-deductible contribution: https://greatergoodgreenville.network... Join the newsletter: https://simplecivicsgreenvillecounty....