I want to free up storage space and my icloud library is 12.3gb of my usage and photo library is 7.5gb. If I turn off my photon library backup do I lose my photos?
I've never lost any photos when I've disabled iCloud Photo Library on my iPhone. Anyway, according to Apple:
Once disabled, you will have 30 days to download your library to at least one device. You can download your photos and videos to your iOS device by turning on Keep Originals or by selecting the items to download from iCloud.com/photos.