The Richland City Council is reviewing information on the new Georgia Property Tax Homestead Exemption Law. They received legal advice on the issue during a recent meeting.
The city released the information below about the meeting.
Attorney Tommy Coleman addressed the Council to explain the new Georgia Property Tax Homestead Exemption. The city has until March 1, 2025, to opt out of the exemption which means the existing taxable property value system will remain as is. If the city does not opt-out, existing homeowner property values will be frozen or capped at a statewide inflation rate, and the additional tax burden shifted solely to business owners, rental property owners, and farmland owners.
Should the city vote to stay and not opt out of the exemption,...
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