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City holds third public hearing on statewide floating homestead exemption, staff urges opt-out consideration
Summary
Council heard a staff explanation of House Bill 581and how the statewide floating homestead exemption could affect Chamblee revenue; the council was told March 1 is the local opt-out deadline unless the Legislature extends it.
City staff held a third public hearing Wednesday on House Bill 581, the 2024 state law that creates a statewide floating homestead exemption, and outlined how the measure could affect Chambleetax revenues if the city does not opt out.
A staff presenter said HB 581 "implements a statewide floating homestead exemption" that adjusts a property's base assessed value by inflation and "takes effect January 1." He told the council the exemption applies to homesteaded residential properties and is added…
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