Toilet Shutoff valve and paneling

[Ring1]

I am installing new paneling on the wall behind my toilet, and need to make a hole in the paneling for the water line. However, I don't want the hole to be huge (just slightly larger than the diameter of the pipe itself), and the oval shutoff valve is getting in the way.

If I remove the screw holding on the shutoff valve, will I have to cut off the main water to the house? Or can I shut the valve, then unscrew the knob without water shooting everywhere?

That make sense?

 

[HookEm]

definitely shut the water off at the street before removing the screw.

 

[BigWill]

no need. The handle is held on by the screw. you can remove the screw, without causing any leaks. Now, if you remove the entire valve (called an angle stop) you need to shut off the main and bleed the system.

Just remove the handle, cut the hole, and get an oversize split escutsion (sp?) to cover the hole.