Local governments consider opting out of Ga. tax law

AUGUSTA, Ga. (WRDW/WAGT) - With the new year comes new laws and one such law in Georgia has to do with protecting homeowners from big spikes in property tax values.

More than 60% of voters in November said yes to the homestead exemption question on the ballot, which could put a cap on tax hikes on your home.

But, local governments have one chance to opt out of this new law.

This is a pretty complicated subject that really varies county by county because property values vary depending on where you live.

Even though a majority of voters clicked yes at the polls to pay less in property taxes, many are still asking questions.

Voting to pay less on property taxes sounds like a no-brainer. But what does that mean? What changes?

House Bill 581 changes how local governments look at property taxes with your homestead exemption.

The exemption puts a cap on tax increases on your home meaning if your property value increases faster than inflation, the taxable value on your home would not be the same as the property’s value.

And the tax assessor’s office would take last year’s property value and add the rate of inflation.

But with every bill comes fine print, and this bill allows local governments, cities and school boards to opt out.

Which would mean they can keep taxing properties the same as before.

But the opt out process brings on an entirely new set of rules, requiring local governments to hold three public hearings for you at home to attend to listen and understand how this will impact you and your wallet.

The Georgia Municipal Association says after those steps are completed, the school board and local government may then adopt a resolution that is filed away with the secretary of state.

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