It will not be long before homeowners in Fayette and across Georgia find out the intentions of legislators dealing with the tax relief credit based on the homestead exemption that Gov. Sonny Perdue wants to withhold from county coffers.

In the event that legislators agree with Perdue and counties have to bill homeowners for the missing money, what would the impact be on the pocketbook for Fayette County homeowners?

The bottom line would be approximately $240-280, since the credit is based on the homestead exemption that totals $8,000, Tax Commissioners George Wingo said Friday.

The difference in the amount received from the Homeowner Tax Relief Grant (HTRG) depends on the location of the home, since millage rates differ between the various municipalities and the county.

“If you qualify for the homestead exemption, you qualify for the credit,” Wingo said.

The General Assembly is expected to take up the issue and bring it to a conclusion during the legislative session.

“Now’s not the time to panic,” Wingo said. “Let’s see what the legislature does.”

The issue first surfaced in August when Perdue announced his intention to withhold the annual tax credit rebate as a way of combatting the state’s shrinking revenue stream. Fayette mailed property tax bills without removing the credit.

More recently, Fayette County School Superintendent John DeCotis asked that the Fayette County Commission re-bill taxpayers to make up the anticipated shortfall.

DeCotis said the school system stood to “lose $3.5 million on top of already instituted state funding cuts.”

The county commission responded later in the week by turning down the request in lieu of waiting for the legislature to decide on the matter.

Clarifying the issue, DeCotis said Monday he had spoken with Wingo, County Administrator Jack Krakeel and Chairman Jack Smith prior to sending the letter.

DeCotis said he asked that the tax bills be re-issued only if the legislature did not act, but not prior to that time.

Wingo said the HTRG credit was initiated by former Gov. Roy Barnes in 1999. The credit began as a $2,000 exemption with the idea of adding an additional $2,000 per year until it reached $20,000.

Those plans fell short when Perdue and the legislature did not increase the exemption past the current $8,000.