Marion Commission and City of BV plan to Opt Out of HB 581

The Marion County Commission and the Buena Vista City Council both recently announced their intentions to opt out of the Homestead Exemption offered by House Bill 581 (HB 581).
HB 581, passed by the Georgia General Assembly in 2024, establishes a statewide floating homestead exemption that limits the annual increase in property tax assessments on homesteaded properties to the inflation rate of the previous year. For example, if a home increases in value by 5% but the previous year's inflation rate is 2%, the home will only be valued at 2% more.
County Commission and City Council officials believe the opting out of the exemption is "the most prudent course of action to safeguard the financial stability" of their local governments.
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